Metropolitan Bank Holding Corp. (NYSE:MCB) Stake Reduced by Kings Path Partners LLC

Kings Path Partners LLC lowered its stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 38.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,660 shares of the company's stock after selling 5,450 shares during the period. Kings Path Partners LLC owned about 0.08% of Metropolitan Bank worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in shares of Metropolitan Bank during the 4th quarter worth about $12,109,000. Man Group plc raised its position in shares of Metropolitan Bank by 44.4% during the 4th quarter. Man Group plc now owns 7,236 shares of the company's stock worth $423,000 after acquiring an additional 2,226 shares in the last quarter. Numerai GP LLC acquired a new position in Metropolitan Bank during the fourth quarter worth approximately $540,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Metropolitan Bank by 3.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,020 shares of the company's stock valued at $352,000 after purchasing an additional 182 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Metropolitan Bank by 2.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 57,902 shares of the company's stock valued at $3,381,000 after purchasing an additional 1,624 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, COO Dixiana M. Berrios sold 6,250 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $64.00, for a total value of $400,000.00. Following the completion of the transaction, the chief operating officer now directly owns 13,606 shares in the company, valued at approximately $870,784. The trade was a 31.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark R. Defazio sold 15,088 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.78, for a total value of $826,520.64. Following the completion of the transaction, the chief executive officer now owns 100,628 shares of the company's stock, valued at $5,512,401.84. This trade represents a 13.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,657 shares of company stock valued at $1,700,473 in the last 90 days. 6.09% of the stock is currently owned by insiders.

Metropolitan Bank Stock Performance

Shares of MCB stock traded up $1.46 during midday trading on Tuesday, hitting $64.89. The company had a trading volume of 9,070 shares, compared to its average volume of 92,647. The company's 50 day simple moving average is $59.44 and its 200 day simple moving average is $60.37. Metropolitan Bank Holding Corp. has a 52-week low of $37.10 and a 52-week high of $69.56. The stock has a market cap of $691.73 million, a price-to-earnings ratio of 10.96 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 (NYSE:MCB - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. The business had revenue of $70.59 million during the quarter, compared to analysts' expectations of $67.62 million. During the same quarter last year, the firm earned $1.46 earnings per share. Research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Metropolitan Bank 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.