Assenagon Asset Management S.A. Invests $1.21 Million in Metropolitan Bank Holding Corp. (NYSE:MCB)

Assenagon Asset Management S.A. purchased a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,421 shares of the company's stock, valued at approximately $1,210,000. Assenagon Asset Management S.A. owned 0.28% of Metropolitan Bank at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Coombe Bender & Co LLC grew its stake in Metropolitan Bank by 7.3% in the third quarter. Coombe Bender & Co LLC now owns 9,459 shares of the company's stock valued at $343,000 after purchasing an additional 641 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Metropolitan Bank by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 120,952 shares of the company's stock valued at $6,698,000 after purchasing an additional 914 shares during the last quarter. Cox Capital Mgt LLC grew its stake in Metropolitan Bank by 11.9% in the first quarter. Cox Capital Mgt LLC now owns 11,395 shares of the company's stock valued at $439,000 after purchasing an additional 1,214 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Metropolitan Bank in the third quarter valued at about $71,000. Finally, Swiss National Bank grew its stake in Metropolitan Bank by 10.4% in the third quarter. Swiss National Bank now owns 23,400 shares of the company's stock valued at $849,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company's stock.

Metropolitan Bank Stock Performance

Shares of Metropolitan Bank stock traded up $0.52 on Tuesday, reaching $44.26. 158,787 shares of the stock were exchanged, compared to its average volume of 103,011. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Metropolitan Bank Holding Corp. has a twelve month low of $24.84 and a twelve month high of $57.15. The firm has a market capitalization of $495.27 million, a price-to-earnings ratio of 7.29 and a beta of 1.14. The business has a 50 day moving average price of $38.93 and a two-hundred day moving average price of $42.73.

Metropolitan Bank (NYSE:MCB - Get Free Report) last released its earnings results on Thursday, April 18th. The company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.18. Metropolitan Bank had a return on equity of 10.57% and a net margin of 15.82%. The firm had revenue of $66.71 million during the quarter, compared to the consensus estimate of $63.97 million. Analysts anticipate that Metropolitan Bank Holding Corp. will post 6.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCB. Keefe, Bruyette & Woods dropped their price target 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. JPMorgan Chase & Co. dropped their price target 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.

Metropolitan Bank Profile

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.

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