On April 10, 2023 at 11:26:29 ET an unusually large $457.69K block of Put contracts in Metropolitan Bank Holding (MCB) was sold, with a strike price of $25.00 / share, expiring in 39 days (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.26 sigmas above the mean, placing it in the 96.44 percentile of all recent large trades made in MCB options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 138.98% Upside
As of April 7, 2023, the average one-year price target for Metropolitan Bank Holding is $70.38. The forecasts range from a low of $69.69 to a high of $72.45. The average price target represents an increase of 138.98% from its latest reported closing price of $29.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Metropolitan Bank Holding is $307MM, an increase of 24.83%. The projected annual non-GAAP EPS is $10.54.
What is the Fund Sentiment?
There are 387 funds or institutions reporting positions in Metropolitan Bank Holding. This is an increase of 19 owner(s) or 5.16% in the last quarter. Average portfolio weight of all funds dedicated to MCB is 0.12%, a decrease of 30.49%. Total shares owned by institutions decreased in the last three months by 2.45% to 10,366K shares. The put/call ratio of MCB is 3.55, indicating a bearish outlook.
What are Large Shareholders Doing?
Macquarie Group holds 761K shares representing 6.94% ownership of the company. In it’s prior filing, the firm reported owning 727K shares, representing an increase of 4.45%. The firm decreased its portfolio allocation in MCB by 8.14% over the last quarter.
T. Rowe Price Investment Management holds 655K shares representing 5.98% ownership of the company. In it’s prior filing, the firm reported owning 400K shares, representing an increase of 39.01%. The firm increased its portfolio allocation in MCB by 43.55% over the last quarter.
DEVLX – Delaware Small Cap Value Fund holds 516K shares representing 4.70% ownership of the company. No change in the last quarter.
Patriot Financial Partners Gp holds 434K shares representing 3.96% ownership of the company. No change in the last quarter.
PRSVX – T. Rowe Price Small-Cap Value Fund holds 401K shares representing 3.66% ownership of the company. In it’s prior filing, the firm reported owning 235K shares, representing an increase of 41.35%. The firm increased its portfolio allocation in MCB by 51.99% over 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.
This article originally appeared on Fintel
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