Metropolitan Bank (NYSE:MCB) Upgraded at ValuEngine
Separately, Zacks Investment Research raised shares of Metropolitan Bank from a strong sell rating to a hold rating in a report on Tuesday, October 8th.
MCB stock traded up $0.78 during trading on Thursday, hitting $39.80. 15,863 shares of the company’s stock traded hands, compared to its average volume of 17,476. The firm has a market capitalization of $324.64 million, a P/E ratio of 11.75 and a beta of 1.36. The business has a fifty day simple moving average of $38.70 and a two-hundred day simple moving average of $39.81. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Metropolitan Bank has a 1 year low of $29.05 and a 1 year high of $44.99.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in Metropolitan Bank in the second quarter worth $26,000. Russell Investments Group Ltd. grew its holdings in Metropolitan Bank by 196.4% in the second quarter. Russell Investments Group Ltd. now owns 1,660 shares of the company’s stock worth $73,000 after purchasing an additional 1,100 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Metropolitan Bank in the first quarter worth $99,000. Tower Research Capital LLC TRC grew its holdings in Metropolitan Bank by 198.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,514 shares of the company’s stock worth $111,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Metropolitan Bank by 271.9% in the second quarter. Morgan Stanley now owns 3,912 shares of the company’s stock worth $172,000 after purchasing an additional 2,860 shares during the last quarter. 52.21% of the stock is currently owned by institutional investors and hedge funds.
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.
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