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.
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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