Salzhauer Michael Grows Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Salzhauer Michael raised its position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,703 shares of the company's stock after buying an additional 5,598 shares during the quarter. Metropolitan Bank comprises about 0.9% of Salzhauer Michael's portfolio, making the stock its 19th largest position. Salzhauer Michael owned about 0.37% of Metropolitan Bank worth $2,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Metropolitan Bank in the fourth quarter valued at about $12,109,000. JPMorgan Chase & Co. grew its position in Metropolitan Bank by 1,726.5% during the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock worth $8,718,000 after acquiring an additional 141,107 shares during the last quarter. Royce & Associates LP bought a new position in Metropolitan Bank in the fourth quarter valued at about $2,174,000. American Century Companies Inc. boosted its position in Metropolitan Bank by 14.2% during the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock worth $14,343,000 after buying an additional 30,547 shares during the period. Finally, Franklin Resources Inc. raised its position in Metropolitan Bank by 44.8% during the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock worth $4,751,000 after purchasing an additional 25,654 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Hovde Group boosted their price target on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th.

Metropolitan Bank Stock Up 5.6 %

Shares of MCB stock traded up $3.11 on Tuesday, reaching $58.63. 82,965 shares of the company were exchanged, compared to its average volume of 91,430. The company has a 50-day moving average of $55.67 and a 200-day moving average of $59.06. The company has a market cap of $658.12 million, a price-to-earnings ratio of 9.90 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank Holding Corp. has a one year low of $37.10 and a one year high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to analyst estimates of $67.62 million. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. During the same quarter in the prior year, the business earned $1.46 earnings per share. Analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Scott Lublin sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the sale, the executive vice president now directly owns 49,988 shares of the company's stock, valued at $2,729,344.80. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction of $826,520.64. Following the sale, the chief executive officer now owns 100,628 shares in the company, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,088 shares of company stock worth $1,161,791. Insiders own 6.50% of the company's stock.

Metropolitan Bank Company 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.