Metropolitan Bank Holding Corp. Director Purchases $24,430.50 in Stock

On October 24th, Director Chaya Pamula of Metropolitan Bank Holding Corp. (NYSE:MCB) made a noteworthy investment by purchasing 450 shares of the company’s stock. The shares were acquired at an average price of $54.29 each, amounting to a total investment of $24,430.50. Following this transaction, Director Pamula's total ownership in the company has increased to 6,513 shares, which are now valued at approximately $353,590.77. This purchase resulted in a marginal increase in their overall holding, estimated at 0.00%. Details of this transaction were officially filed with the SEC, which can be reviewed through the appropriate channels.

Metropolitan Bank Stock Movement

On the following day, the stock price of Metropolitan Bank (MCB) opened at $52.78. The bank’s financial metrics indicate a quick ratio of 0.99, a current ratio of 0.99, and a debt-to-equity ratio of 0.37. With a market capitalization of around $590.61 million, MCB reports a price-to-earnings (PE) ratio of 9.92 and a beta value of 1.13. The current fifty-day moving average is approximately $52.64, while the two-hundred day moving average sits at about $46.51. Over the past year, the stock reached a low of $31.35 and a high of $64.10.

Institutional Investor Activity

In recent weeks, multiple institutional investors have taken significant positions in Metropolitan Bank. For instance, Millennium Management LLC acquired a new stake in the bank during the second quarter amounting to about $4,991,000. Additionally, Price T Rowe Associates Inc. also initiated a position in the first quarter, valued at approximately $1,876,000. Notably, Assenagon Asset Management S.A. significantly increased its investment by 112.4% during the third quarter, bringing their total shares to 89,193, worth around $4,690,000 after acquiring an additional 47,193 shares. Other firms, including Empowered Funds LLC and Marshall Wace LLP, have also increased their holdings in the bank. In total, institutional investors control 79.83% of Metropolitan Bank's stock, indicating strong confidence in the company.

Analyst Recommendations

Wall Street analysts are optimistic about the prospects of Metropolitan Bank. Recently, Hovde Group raised their price target from $65.50 to $68.00 while maintaining an