Assenagon Asset Management S.A. Sells 13,615 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Assenagon Asset Management S.A. lessened its stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,031 shares of the company's stock after selling 13,615 shares during the period. Assenagon Asset Management S.A. owned about 0.52% of Metropolitan Bank worth $3,249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MCB. Wellington Management Group LLP bought a new stake in shares of Metropolitan Bank in the 4th quarter valued at about $12,109,000. JPMorgan Chase & Co. grew its position in shares of Metropolitan Bank by 1,726.5% in the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock valued at $8,718,000 after buying an additional 141,107 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Metropolitan Bank by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company's stock valued at $17,008,000 after buying an additional 41,449 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Metropolitan Bank in the 4th quarter valued at about $2,174,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Metropolitan Bank in the 4th quarter valued at about $1,982,000. Institutional investors own 79.83% of the company's stock.

Insider Activity

In other news, CEO Mark R. Defazio sold 23,114 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $65.43, for a total value of $1,512,349.02. Following the transaction, the chief executive officer now directly owns 94,185 shares of the company's stock, valued at $6,162,524.55. The trade was a 19.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Norman Scott sold 3,293 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $60.57, for a total value of $199,457.01. Following the completion of the transaction, the senior vice president now directly owns 12,546 shares in the company, valued at $759,911.22. This represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,200 shares of company stock valued at $3,455,729 in the last ninety days. 6.09% of the stock is owned by company insiders.

Metropolitan Bank Trading Down 2.8%

NYSE MCB opened at $64.17 on Monday. The business's 50-day moving average price is $61.57 and its two-hundred day moving average price is $60.35. Metropolitan Bank Holding Corp. has a 12 month low of $37.10 and a 12 month high of $69.56. The firm has a market capitalization of $684.05 million, a PE ratio of 10.84 and a beta of 1.08. 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 (EPS) for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). The business had revenue of $70.59 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $1.46 earnings per share. On average, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS 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.

Want to see what other hedge funds are holding MCB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.