Kings Path Partners LLC Boosts Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Kings Path Partners LLC increased its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,110 shares of the company’s stock after buying an additional 1,420 shares during the quarter. Kings Path Partners LLC owned 0.13% of Metropolitan Bank worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in Metropolitan Bank in the 2nd quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after buying an additional 921 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Metropolitan Bank during the second quarter valued at $74,000. CWM LLC raised its stake in Metropolitan Bank by 127.0% in the 3rd quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after acquiring an additional 996 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Metropolitan Bank during the 3rd quarter worth about $207,000. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Hovde Group lifted their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Metropolitan Bank Stock Performance

Metropolitan Bank stock traded up $0.43 during mid-day trading on Monday, hitting $59.93. The company had a trading volume of 14,897 shares, compared to its average volume of 53,833. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $671.10 million, a price-to-earnings ratio of 11.27 and a beta of 1.17. The company’s fifty day moving average is $61.84 and its 200-day moving average is $53.98. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The business had revenue of $71.52 million during the quarter, compared to the consensus estimate of $66.70 million. Equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Norman Scott sold 1,473 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the transaction, the senior vice president now owns 11,732 shares in the company, valued at $679,517.44. This trade represents a 11.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Lublin sold 3,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the completion of the sale, the executive vice president now directly owns 52,253 shares of the company’s stock, valued at approximately $3,070,908.81. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,723 shares of company stock worth $398,409. 6.50% of the stock is owned by corporate insiders.

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.