Wedge Capital Management L L P NC Makes New Investment in Metropolitan Bank Holding Corp (NYSE:MCB)

Wedge Capital Management L L P NC acquired a new position in Metropolitan Bank Holding Corp (NYSE:MCB) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 16,024 shares of the company’s stock, valued at approximately $705,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Metropolitan Bank by 2.2% during the 4th quarter. BlackRock Inc. now owns 335,899 shares of the company’s stock valued at $10,363,000 after buying an additional 7,206 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Metropolitan Bank by 34.5% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 142,168 shares of the company’s stock valued at $4,946,000 after purchasing an additional 36,434 shares during the period. Northern Trust Corp raised its stake in shares of Metropolitan Bank by 2.5% during the 4th quarter. Northern Trust Corp now owns 75,091 shares of the company’s stock valued at $2,317,000 after purchasing an additional 1,842 shares during the period. Context BH Capital Management LP raised its stake in shares of Metropolitan Bank by 12.8% during the 1st quarter. Context BH Capital Management LP now owns 57,383 shares of the company’s stock valued at $1,996,000 after purchasing an additional 6,531 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Metropolitan Bank by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 50,282 shares of the company’s stock valued at $1,551,000 after purchasing an additional 5,803 shares during the period. 51.31% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MCB opened at $38.32 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.14. Metropolitan Bank Holding Corp has a 52-week low of $29.05 and a 52-week high of $46.70. The firm has a market cap of $316.99 million, a price-to-earnings ratio of 11.48 and a beta of 1.28. The business’s fifty day moving average is $42.18 and its 200 day moving average is $39.41.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.18). Metropolitan Bank had a net margin of 24.86% and a return on equity of 10.37%. The company had revenue of $25.61 million for the quarter, compared to the consensus estimate of $26.00 million. Equities analysts predict that Metropolitan Bank Holding Corp will post 3.44 EPS for the current fiscal year.

A number of analysts recently issued reports on MCB shares. TheStreet upgraded Metropolitan Bank from a “d+” rating to a “c-” rating in a research note on Monday, April 29th. Zacks Investment Research upgraded Metropolitan Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

Metropolitan Bank 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.

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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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