PDT Partners LLC Has $745,000 Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

PDT Partners LLC grew its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 66.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,178 shares of the company’s stock after buying an additional 5,670 shares during the period. PDT Partners LLC’s holdings in Metropolitan Bank were worth $745,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. CWM LLC raised its holdings in Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Metropolitan Bank by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock valued at $769,000 after purchasing an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Metropolitan Bank in the second quarter valued at $27,000. Verition Fund Management LLC lifted its position in Metropolitan Bank by 12.0% in the third quarter. Verition Fund Management LLC now owns 6,553 shares of the company’s stock worth $345,000 after purchasing an additional 700 shares during the period. Finally, Salzhauer Michael boosted its stake in Metropolitan Bank by 2.3% during the second quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock worth $1,604,000 after buying an additional 842 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Trading Up 1.6 %

Shares of MCB opened at $65.98 on Tuesday. The stock has a 50 day simple moving average of $58.38 and a 200-day simple moving average of $50.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market cap of $738.98 million, a PE ratio of 12.40 and a beta of 1.12. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The company had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. On average, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Insider Activity at Metropolitan Bank

In related news, SVP Norman Scott sold 1,473 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the sale, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. This represents a 11.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction on Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the transaction, the executive vice president now owns 31,443 shares of the company’s stock, valued at approximately $1,733,767.02. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,973 shares of company stock valued at $291,024 in the last ninety days. Insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group increased their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 21st.

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.