Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 68.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,819 shares of the company’s stock after acquiring an additional 5,624 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Metropolitan Bank were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCB. Basswood Capital Management L.L.C. lifted its position in Metropolitan Bank by 176.8% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after acquiring an additional 388,200 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Metropolitan Bank during the 3rd quarter worth approximately $1,893,000. Franklin Resources Inc. raised its stake 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 worth $4,751,000 after buying an additional 25,654 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter worth approximately $1,405,000. Finally, Algert Global LLC raised its stake in shares of Metropolitan Bank by 100.6% during the 3rd quarter. Algert Global LLC now owns 44,030 shares of the company’s stock worth $2,315,000 after buying an additional 22,077 shares in the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Metropolitan Bank news, CEO Mark R. Defazio sold 15,088 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the transaction, the chief executive officer now owns 100,628 shares of the company’s stock, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dale C. Fredston sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total value of $62,270.00. Following the transaction, the director now directly owns 17,668 shares of the company’s stock, valued at $1,100,186.36. The trade was a 5.36 % 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 valued at $1,161,791. Corporate insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

NYSE MCB opened at $55.18 on Friday. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56. The company has a market capitalization of $619.38 million, a P/E ratio of 9.32 and a beta of 1.17. The business has a 50 day moving average price of $59.99 and a 200 day moving average price of $58.71. 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 (NYSE:MCB) last released its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Sell-side analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods increased their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group increased their target price on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, January 27th.

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.