Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,253 shares of the company's stock after buying an additional 32,032 shares during the period. Vanguard Group Inc. owned approximately 5.35% of Metropolitan Bank worth $21,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Prelude Capital Management LLC grew its stake in Metropolitan Bank by 5.0% during the 1st quarter. Prelude Capital Management LLC now owns 3,062 shares of the company's stock valued at $312,000 after purchasing an additional 145 shares during the last quarter. Legal & General Group Plc grew its stake in Metropolitan Bank by 8.0% during the 4th quarter. Legal & General Group Plc now owns 3,750 shares of the company's stock valued at $220,000 after purchasing an additional 277 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Metropolitan Bank by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,097 shares of the company's stock valued at $2,998,000 after purchasing an additional 302 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Metropolitan Bank by 1.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 29,942 shares of the company's stock valued at $1,086,000 after purchasing an additional 344 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Metropolitan Bank by 5.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 7,005 shares of the company's stock valued at $451,000 after purchasing an additional 354 shares during the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MCB shares. JPMorgan Chase & Co. lowered their target price on Metropolitan Bank from $55.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 4th. Keefe, Bruyette & Woods lowered their target price on Metropolitan Bank from $73.00 to $66.00 and set an "outperform" rating on the stock in a research note on Monday, January 22nd.

Metropolitan Bank Price Performance

MCB stock traded down $0.53 during mid-day trading on Friday, reaching $34.47. 39,678 shares of the company's stock were exchanged, compared to its average volume of 104,813. The company has a market cap of $382.27 million, a price-to-earnings ratio of 5.02 and a beta of 1.18. The stock's 50 day moving average is $39.36 and its 200 day moving average is $41.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.02. Metropolitan Bank Holding Corp. has a 12-month low of $15.75 and a 12-month high of $57.15.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings results on Thursday, January 18th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($0.23). The business had revenue of $63.56 million for the quarter, compared to analysts' expectations of $60.96 million. Metropolitan Bank had a return on equity of 12.25% and a net margin of 19.16%. On average, research analysts expect that Metropolitan Bank Holding Corp. will post 5.91 EPS for the current year.

About Metropolitan Bank

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area.