Victory Capital Management Inc. Acquires Shares of 6,614 Metropolitan Bank Holding Corp. (NYSE:MCB)

Victory Capital Management Inc. acquired a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,614 shares of the company’s stock, valued at approximately $348,000.

A number of other large investors also recently modified their holdings of MCB. CWM LLC boosted its holdings in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after buying an additional 323 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Metropolitan Bank by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock valued at $769,000 after buying an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Metropolitan Bank in the 2nd quarter valued at $27,000. Salzhauer Michael boosted its holdings in shares of Metropolitan Bank by 2.3% in the 2nd quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock valued at $1,604,000 after buying an additional 842 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Metropolitan Bank by 12.0% in the 2nd quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock valued at $572,000 after buying an additional 1,456 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now owns 31,443 shares in the company, valued at approximately $1,733,767.02. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 11,732 shares of the company’s stock, valued at $679,517.44. This trade represents a 11.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,973 shares of company stock worth $291,024 in the last 90 days. Company insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their target price on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 21st.

Metropolitan Bank Stock Down 2.7 %

Shares of NYSE:MCB opened at $65.47 on Friday. The stock has a market cap of $733.26 million, a P/E ratio of 12.31 and a beta of 1.12. The firm has a fifty day moving average price of $58.12 and a 200 day moving average price of $50.38. 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 1-year low of $32.46 and a 1-year high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results 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. The firm had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. Sell-side analysts predict that Metropolitan Bank Holding Corp. will post 6.31 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.