Segall Bryant & Hamill LLC Acquires New Position in Metropolitan Bank Holding Corp. $MCB

Segall Bryant & Hamill LLC acquired a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,683 shares of the company’s stock, valued at approximately $1,473,000. Segall Bryant & Hamill LLC owned approximately 0.14% of Metropolitan Bank at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of Metropolitan Bank by 611.9% in the 1st quarter. Bank of America Corp DE now owns 141,613 shares of the company’s stock valued at $11,795,000 after purchasing an additional 121,721 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Metropolitan Bank by 272.0% during the 1st quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock worth $108,000 after buying an additional 941 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Metropolitan Bank by 26.0% in the first quarter. Quantinno Capital Management LP now owns 8,112 shares of the company’s stock valued at $676,000 after buying an additional 1,676 shares in the last quarter. Lazard Asset Management LLC grew its position in Metropolitan Bank by 6.3% in the first quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock valued at $502,000 after acquiring an additional 355 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Metropolitan Bank in the first quarter valued at about $1,033,000. 79.83% of the stock is currently owned by institutional investors.

Metropolitan Bank Stock Up 2.2%

Shares of NYSE MCB opened at $94.69 on Wednesday. The company has a 50 day simple moving average of $94.82 and a 200 day simple moving average of $90.13. The firm has a market cap of $1.17 billion, a PE ratio of 11.99 and a beta of 0.99. Metropolitan Bank Holding Corp. has a 1 year low of $64.66 and a 1 year high of $102.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.99.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Tuesday, July 21st. The company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). Metropolitan Bank had a return on equity of 10.22% and a net margin of 14.31%.The business had revenue of $93.01 million for the quarter, compared to the consensus estimate of $93.39 million.

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, July 31st. Metropolitan Bank’s dividend payout ratio (DPR) is presently 17.72%.

Analysts Set New Price Targets

MCB has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods dropped their price objective on shares of Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. UBS Group cut their target price on shares of Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut shares of Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $105.00.

Insider Buying and Selling at Metropolitan Bank

In related news, Director Harvey Gutman sold 3,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $89.58, for a total value of $268,740.00. Following the completion of the sale, the director directly owned 18,243 shares in the company, valued at $1,634,207.94. This represents a 14.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nick Rosenberg sold 1,807 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total value of $181,458.94. Following the transaction, the executive vice president directly owned 22,202 shares of the company’s stock, valued at approximately $2,229,524.84. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 19,897 shares of company stock worth $1,874,352. Company insiders own 5.50% of the company’s stock.

Metropolitan Bank Company Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.