Ameriprise Financial Inc. Reduces Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Ameriprise Financial Inc. lessened its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,184 shares of the company's stock after selling 23,982 shares during the period. Ameriprise Financial Inc. owned 1.07% of Metropolitan Bank worth $7,019,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MCB. JPMorgan Chase & Co. lifted its holdings in shares of Metropolitan Bank by 74.8% during the third quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company's stock worth $430,000 after purchasing an additional 3,497 shares during the period. SG Americas Securities LLC lifted its holdings in Metropolitan Bank by 9.1% in the fourth quarter. SG Americas Securities LLC now owns 9,342 shares of the company's stock valued at $546,000 after buying an additional 781 shares during the period. PFG Investments LLC acquired a new position in Metropolitan Bank in the fourth quarter valued at $302,000. R Squared Ltd acquired a new position in Metropolitan Bank in the fourth quarter valued at $91,000. Finally, Sippican Capital Advisors lifted its holdings in Metropolitan Bank by 41.2% in the fourth quarter. Sippican Capital Advisors now owns 18,296 shares of the company's stock valued at $1,068,000 after buying an additional 5,342 shares during the period. Institutional investors and hedge funds own 79.83% of the company's stock.

Metropolitan Bank Trading Down 0.2%

MCB stock traded down $0.12 during midday trading on Friday, hitting $63.84. The stock had a trading volume of 76,164 shares, compared to its average volume of 93,061. The business has a fifty day moving average price of $58.45 and a two-hundred day moving average price of $60.36. Metropolitan Bank Holding Corp. has a 1-year low of $37.10 and a 1-year high of $69.56. The firm has a market cap of $680.51 million, a P/E ratio of 10.78 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

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

Analyst Ratings Changes

Separately, Hovde Group boosted their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a report on Monday, January 27th.

Insider Activity

In other news, CEO Mark R. Defazio sold 15,088 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the sale, the chief executive officer now directly owns 100,628 shares of the company's stock, valued at $5,512,401.84. The trade was a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Norman Scott sold 3,293 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $60.57, for a total transaction of $199,457.01. Following the sale, the senior vice president now directly owns 12,546 shares of the company's stock, valued at approximately $759,911.22. The trade was a 20.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,657 shares of company stock worth $1,700,473. Company insiders own 6.09% of the company's stock.

Metropolitan Bank Company Profile

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.