Metropolitan Bank Holding Corp (NYSE:MCB) Short Interest Down 7.6% in September

Metropolitan Bank Holding Corp (NYSE:MCB) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 37,800 shares, a decline of 7.6% from the August 30th total of 40,900 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 13,600 shares, the short-interest ratio is currently 2.8 days.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC acquired a new position in Metropolitan Bank in the 2nd quarter valued at approximately $2,144,000. Morgan Stanley increased its stake in Metropolitan Bank by 271.9% in the 2nd quarter. Morgan Stanley now owns 3,912 shares of the company’s stock valued at $172,000 after buying an additional 2,860 shares during the period. Bank of America Corp DE increased its stake in Metropolitan Bank by 10.1% in the 2nd quarter. Bank of America Corp DE now owns 13,268 shares of the company’s stock valued at $583,000 after buying an additional 1,215 shares during the period. Vanguard Group Inc. increased its stake in Metropolitan Bank by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 266,790 shares of the company’s stock valued at $11,739,000 after buying an additional 17,407 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Metropolitan Bank by 18.6% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 29,693 shares of the company’s stock valued at $1,306,000 after buying an additional 4,650 shares during the period. 52.21% of the stock is currently owned by hedge funds and other institutional investors.

Metropolitan Bank stock traded down $0.10 during midday trading on Thursday, hitting $40.61. 1,496 shares of the stock were exchanged, compared to its average volume of 17,346. Metropolitan Bank has a 1 year low of $29.05 and a 1 year high of $44.99. The firm has a market cap of $331.13 million, a P/E ratio of 13.27 and a beta of 1.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50 day moving average price of $39.05 and a two-hundred day moving average price of $40.00.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.18). Metropolitan Bank had a return on equity of 10.37% and a net margin of 24.86%. The firm had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $26.00 million. As a group, analysts predict that Metropolitan Bank will post 3.34 EPS for the current year.

Several equities research analysts recently issued reports on MCB shares. Zacks Investment Research raised shares of Metropolitan Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 8th. ValuEngine raised shares of Metropolitan Bank from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th.

About Metropolitan Bank

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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