Fintel reports that on December 15, 2023, Piper Sandler initiated coverage of Metropolitan Bank Holding (NYSE:MCB) with a Overweight recommendation.
Analyst Price Forecast Suggests 10.36% Upside
As of December 16, 2023, the average one-year price target for Metropolitan Bank Holding is 58.14. The forecasts range from a low of 50.50 to a high of $63.00. The average price target represents an increase of 10.36% from its latest reported closing price of 52.68.
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The projected annual revenue for Metropolitan Bank Holding is 307MM, an increase of 22.96%. The projected annual non-GAAP EPS is 10.54.
What is the Fund Sentiment?
There are 299 funds or institutions reporting positions in Metropolitan Bank Holding. This is an increase of 6 owner(s) or 2.05% in the last quarter. Average portfolio weight of all funds dedicated to MCB is 0.13%, an increase of 27.02%. Total shares owned by institutions decreased in the last three months by 3.06% to 10,365K shares. 
The put/call ratio of MCB is 1.50, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 953K shares representing 8.62% ownership of the company. In it's prior filing, the firm reported owning 966K shares, representing a decrease of 1.28%. The firm increased its portfolio allocation in MCB by 7.04% over the last quarter.
Patriot Financial Partners Gp holds 669K shares representing 6.04% ownership of the company. In it's prior filing, the firm reported owning 502K shares, representing an increase of 24.99%. The firm increased its portfolio allocation in MCB by 39.35% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 555K shares representing 5.02% ownership of the company. In it's prior filing, the firm reported owning 557K shares, representing a decrease of 0.22%. The firm increased its portfolio allocation in MCB by 11.55% over the last quarter.
Adage Capital Partners Gp, L.l.c. holds 513K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 354K shares, representing an increase of 30.93%. The firm increased its portfolio allocation in MCB by 57.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 311K shares representing 2.81% ownership of the company. No change in the last quarter.
Metropolitan Bank Holding Background Information
(This description is provided by the company.)
Metropolitan Bank Holding Corp. is the holding company for Metropolitan Commercial Bank. The Bank provides a broad range of business, commercial and personal banking products and services to small and middle-market businesses, public entities and affluent individuals in the New York metropolitan area. Founded in 1999, the Bank is headquartered in New York City and operates six locations in Manhattan, Brooklyn and Great Neck, Long Island. The Bank is also an active issuer of debit cards for third-party debit card programs and provides critical global payments infrastructure to its FinTech partners. Metropolitan Commercial Bank is a New York State chartered commercial bank and a Federal Reserve System member bank whose deposits are insured up to applicable limits by the FDIC, and an equal opportunity lender.
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