Prudential Financial Inc. Acquires Shares of 16,433 Metropolitan Bank Holding Corp. (NYSE:MCB)

Prudential Financial Inc. bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB) in the fourth quarter, HoldingsChannel reports. The fund bought 16,433 shares of the company’s stock, valued at approximately $960,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Metropolitan Bank by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company’s stock worth $37,689,000 after acquiring an additional 10,545 shares in the last quarter. American Century Companies Inc. raised its stake in shares of 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 purchasing an additional 30,547 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Metropolitan Bank by 44.8% during the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after buying an additional 25,654 shares during the last quarter. Salzhauer Michael grew its stake in shares of Metropolitan Bank by 15.5% in the 4th quarter. Salzhauer Michael now owns 41,703 shares of the company’s stock valued at $2,435,000 after buying an additional 5,598 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Metropolitan Bank by 4.9% in the fourth quarter. Empowered Funds LLC now owns 40,142 shares of the company’s stock worth $2,344,000 after buying an additional 1,890 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Metropolitan Bank Trading Down 0.1 %

Shares of MCB stock opened at $49.26 on Tuesday. The business’s 50 day moving average is $58.54 and its two-hundred day moving average is $59.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. Metropolitan Bank Holding Corp. has a 12 month low of $32.46 and a 12 month high of $69.56. The company has a market cap of $552.91 million, a PE ratio of 8.32 and a beta of 0.95.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. Equities analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Analyst Ratings Changes

MCB has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Hovde Group upped their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, January 27th.

Insider Buying and Selling

In related news, EVP Scott Lublin sold 5,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.60, for a total transaction of $273,000.00. Following the transaction, the executive vice president now owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dale C. Fredston sold 1,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the sale, the director now directly owns 17,668 shares of the company’s stock, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,088 shares of company stock valued at $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.