Thrivent Financial for Lutherans Purchases 2,811 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Thrivent Financial for Lutherans increased its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,905 shares of the company’s stock after purchasing an additional 2,811 shares during the period. Thrivent Financial for Lutherans’ holdings in Metropolitan Bank were worth $1,204,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Metropolitan Bank by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 38,252 shares of the company’s stock valued at $2,011,000 after buying an additional 1,876 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Metropolitan Bank during the third quarter worth approximately $348,000. GSA Capital Partners LLP raised its position in Metropolitan Bank by 146.5% during the third quarter. GSA Capital Partners LLP now owns 19,172 shares of the company’s stock valued at $1,008,000 after purchasing an additional 11,394 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in Metropolitan Bank during the third quarter valued at approximately $248,000. Finally, Summit Global Investments bought a new stake in shares of Metropolitan Bank in the 3rd quarter valued at approximately $328,000. Institutional investors own 79.83% of the company’s stock.

Insider Transactions at Metropolitan Bank

In other news, Director Robert C. Patent sold 1,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now owns 79,133 shares of the company’s stock, valued at approximately $4,377,637.56. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total value of $81,462.50. Following the transaction, the executive vice president now owns 30,193 shares in the company, valued at approximately $1,967,677.81. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,973 shares of company stock worth $291,024. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Down 3.5 %

MCB opened at $64.94 on Monday. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $727.33 million, a price-to-earnings ratio of 12.21 and a beta of 1.12. The stock’s 50 day moving average price is $58.12 and its 200-day moving average price is $50.48.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The company had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. On average, equities analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Analysts Set New Price Targets

Separately, Hovde Group lifted their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

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.