Macquarie Investment Management B recently announced the acquisition of new stake in Metropolitan Bank Holding Corp. (NYSE:MCB). The institutional investor has increased its shareholding in the Financial company by 30.22% to 0.73 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 6.65% valued currently at $42.64 million. In addition, The Vanguard Group, Inc. raised its holdings by 17690.0 to 0.54 million shares.
With over 0.1 million Metropolitan Bank Holding Corp. (MCB) shares trading Monday and a closing price of $56.38 on the day, the dollar volume was approximately $5.75 million. The shares have shown a negative half year performance of -19.70% and its price on 01/23/23 lost nearly -1.33%. Currently, there are 10.93M common shares owned by the public and among those 10.46M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for MCB have a consensus price objective of $71.50. The analysts have set the share’s price value over the next 12 months at a high of $80.00 and a low of $63.00. The average price target is 37.36% above its recent price level and an upside to the estimated low will see the stock gain 10.51% over that period. But an upside of 29.52% will see the stock hit the forecast high price target while median target price for the stock is $71.50.
Insiders at the company have transacted a total of 208 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 106,746 shares. Insider sales of the common stock occurred on 171 occasions, with total insider shares sold totaling 50,786 shares.
The top 3 mutual fund holders in Metropolitan Bank Holding Corp. are Delaware Small Cap Value Fund, T Rowe Price Small Cap Value Fund, and Vanguard Total Stock Market Index. Delaware Small Cap Value Fund owns 0.52 million shares of the company’s stock, all valued at over $30.26 million. The company bought an additional 0.16 million shares recently to bring their total holdings to about 4.72% of the shares outstanding. T Rowe Price Small Cap Value Fund bought 0.18 million shares to see its total holdings expand to 0.41 million shares valued at over $24.11 million and representing 3.76% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.85% of the shares outstanding.
Shares of Metropolitan Bank Holding Corp. (NYSE: MCB) opened at $56.66, down -$0.48 from a prior closing price of $57.14. However, the script later moved the day high at 57.05, down -1.33%. The company’s stock has a 5-day price change of -4.92% and -5.94% over the past three months. MCB shares are trading -3.90% year to date (YTD), with the 12-month market performance down to -42.88% lower. It has a 12-month low price of $53.67 and touched a high of $109.42 over the same period. MCB has an average intraday trading volume of 77.32K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.24%, -7.77%, and -20.74% respectively.
Institutional ownership of Metropolitan Bank Holding Corp. (NYSE: MCB) shares accounts for 83.90% of the company’s 10.93M shares outstanding. Mutual fund holders own 34.84%, while other institutional holders and individual stakeholders account for 42.14% and 12.29% respectively.
It has a market capitalization of $637.66M and a beta (3y monthly) value of 1.10. The stock’s trailing 12-month PE ratio is 7.36, while the earnings-per-share (ttm) stands at $7.66. The company has a debt-to-equity ratio at 0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.21% over the week and 2.70% over the month.
Analysts forecast that Metropolitan Bank Holding Corp. (MCB) will achieve an EPS of $2.41 for the current quarter, $2.46 for the next quarter and $10.44 for 2023. The lowest estimate earnings-per-share for the quarter is $2.32 while analysts give the company a high EPS estimate of $2.51. Comparatively, EPS for the current quarter was $1.69 a year ago. Earnings per share for the fiscal year are expected to increase by 38.50%, and 15.81% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Metropolitan Bank Holding Corp. (MCB) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”