Charles Schwab Investment Management Inc. Has $1.77 Million Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Charles Schwab Investment Management Inc. lifted its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,348 shares of the company’s stock after buying an additional 595 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Metropolitan Bank were worth $1,772,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in MCB. Franklin Resources Inc. raised its stake in Metropolitan Bank by 44.8% in the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after purchasing an additional 25,654 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Metropolitan Bank in the third quarter worth approximately $431,000. Barclays PLC increased its position in Metropolitan Bank by 54.1% in the 3rd quarter. Barclays PLC now owns 23,461 shares of the company’s stock valued at $1,233,000 after buying an additional 8,233 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Metropolitan Bank in the fourth quarter valued at $1,405,000. Finally, JPMorgan Chase & Co. grew its holdings in Metropolitan Bank by 74.8% during the third quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company’s stock worth $430,000 after buying an additional 3,497 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Insider Activity at Metropolitan Bank

In related news, Director Dale C. Fredston sold 1,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the transaction, the director now directly owns 17,668 shares of the company’s stock, valued at $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Defazio sold 15,088 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.78, for a total value 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. The trade was a 13.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,088 shares of company stock worth $1,161,791 in the last 90 days. Company insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Down 2.4 %

Shares of NYSE MCB opened at $55.68 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $625.02 million, a P/E ratio of 9.41 and a beta of 1.17. The firm’s 50 day simple moving average is $59.66 and its two-hundred day simple moving average is $58.99. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year high of $69.56.

Metropolitan Bank (NYSE:MCB) last announced 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%. As a group, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on MCB. Piper Sandler lifted 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. Hovde Group upped their price target on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.