Lido Advisors LLC Buys Shares of 34,474 Metropolitan Bank Holding Corp. $MCB

Lido Advisors LLC bought a new stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) in the 4th quarter, Holdings Channel.com reports. The fund bought 34,474 shares of the company’s stock, valued at approximately $2,632,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC increased its holdings in Metropolitan Bank by 0.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after acquiring an additional 182 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Metropolitan Bank by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock valued at $350,000 after acquiring an additional 237 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Metropolitan Bank by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,502 shares of the company’s stock valued at $344,000 after acquiring an additional 393 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Metropolitan Bank by 7.7% during the 2nd quarter. Lazard Asset Management LLC now owns 5,671 shares of the company’s stock valued at $396,000 after acquiring an additional 407 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after acquiring an additional 490 shares in the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $90.69 on Monday. The company has a market cap of $1.12 billion, a PE ratio of 11.17 and a beta of 1.01. Metropolitan Bank Holding Corp. has a 12 month low of $63.81 and a 12 month high of $97.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50-day simple moving average of $88.23 and a 200-day simple moving average of $84.69.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.73. The business had revenue of $88.49 million during the quarter, compared to the consensus estimate of $87.33 million. Metropolitan Bank had a net margin of 15.89% and a return on equity of 10.95%.

Metropolitan Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were given a $0.25 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 1st. Metropolitan Bank’s dividend payout ratio is 12.32%.

Insider Activity at Metropolitan Bank

In related news, Director Harvey Gutman sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $89.58, for a total value of $268,740.00. Following the sale, the director directly owned 18,243 shares of the company’s stock, valued at approximately $1,634,207.94. This trade represents a 14.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Patent sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $90.21, for a total transaction of $451,050.00. Following the completion of the sale, the director directly owned 96,185 shares in the company, valued at $8,676,848.85. This represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCB. Weiss Ratings upgraded shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Keefe, Bruyette & Woods lifted their price target on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, UBS Group started coverage on shares of Metropolitan Bank in a report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Metropolitan Bank has a consensus rating of “Buy” and an average target price of $95.00.

Metropolitan Bank 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.