Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 26.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,475 shares of the company's stock after selling 12,559 shares during the quarter. BNP Paribas Financial Markets owned about 0.31% of Metropolitan Bank worth $2,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in Metropolitan Bank in the fourth quarter valued at about $12,109,000. JPMorgan Chase & Co. increased its holdings in shares of Metropolitan Bank by 1,726.5% during the fourth quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock valued at $8,718,000 after acquiring an additional 141,107 shares in the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 41,449 shares during the last quarter. Royce & Associates LP acquired a new stake in Metropolitan Bank in the 4th quarter worth approximately $2,174,000. Finally, Boothbay Fund Management LLC purchased a new stake in Metropolitan Bank during the 4th quarter worth approximately $1,982,000. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Metropolitan Bank

In related news, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,988 shares in the company, valued at approximately $2,729,344.80. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Dixiana M. Berrios sold 6,250 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $64.00, for a total transaction of $400,000.00. Following the sale, the chief operating officer now directly owns 13,606 shares in the company, valued at $870,784. The trade was a 31.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,657 shares of company stock worth $1,700,473 over the last quarter. 6.50% of the stock is currently owned by insiders.

Metropolitan Bank Stock Performance

NYSE:MCB traded down $1.63 during midday trading on Wednesday, hitting $65.22. The company's stock had a trading volume of 73,728 shares, compared to its average volume of 93,285. 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 fifty-two week low of $37.10 and a fifty-two week high of $69.56. The firm's 50 day moving average is $57.61 and its 200-day moving average is $60.16. The firm has a market cap of $695.21 million, a P/E ratio of 11.02 and a beta of 1.11.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.16). The business had revenue of $70.59 million during 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 in the previous year, the company posted $1.46 earnings per share. Equities analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.