207,351 Shares in Metropolitan Bank Holding Corp. (NYSE:MCB) Purchased by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 207,351 shares of the company's stock, valued at approximately $12,109,000. Wellington Management Group LLP owned 1.85% of Metropolitan Bank as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Metropolitan Bank by 1,726.5% in the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock worth $8,718,000 after acquiring an additional 141,107 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Metropolitan Bank by 68.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company's stock valued at $807,000 after acquiring an additional 5,624 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Metropolitan Bank during the fourth quarter worth about $1,405,000. Wells Fargo & Company MN grew its stake in shares of Metropolitan Bank by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 6,511 shares of the company's stock worth $380,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Metropolitan Bank by 1.0% in the fourth quarter. Alliancebernstein L.P. now owns 53,617 shares of the company's stock worth $3,131,000 after purchasing an additional 508 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

Insider Activity at Metropolitan Bank

In related news, EVP Scott Lublin sold 5,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,988 shares of the company's stock, valued at $2,729,344.80. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Defazio sold 15,088 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the transaction, the chief executive officer now owns 100,628 shares in the company, valued at $5,512,401.84. This trade represents a 13.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,657 shares of company stock worth $1,700,473 over the last quarter. Corporate insiders own 6.09% of the company's stock.

Metropolitan Bank Trading Down 2.0%

NYSE:MCB traded down $1.30 during mid-day trading on Wednesday, reaching $63.80. 52,404 shares of the company's stock traded hands, compared to its average volume of 92,752. The company has a 50 day moving average price of $59.60 and a 200-day moving average price of $60.40. The firm has a market capitalization of $680.11 million, a price-to-earnings ratio of 10.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank Holding Corp. has a 12-month low of $37.10 and a 12-month high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to analysts' expectations of $67.62 million. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. During the same period last year, the firm posted $1.46 earnings per share. On average, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

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.