Emerald Mutual Fund Advisers Trust lowered its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,457 shares of the company's stock after selling 3,475 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.33% of Metropolitan Bank worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management raised its position in shares of Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after purchasing an additional 161 shares during the period. GAMMA Investing LLC grew its stake in Metropolitan Bank by 289.5% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the company's stock valued at $33,000 after buying an additional 443 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Metropolitan Bank in the 4th quarter worth $128,000. Virtu Financial LLC acquired a new position in Metropolitan Bank during the 4th quarter worth $221,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Metropolitan Bank by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,020 shares of the company's stock valued at $352,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 79.83% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Hovde Group boosted their price target on shares of Metropolitan Bank from $75.00 to $79.00 and gave the company an "outperform" rating in a report on Monday, June 16th.
Read Our Latest Analysis on MCB
Metropolitan Bank Trading Down 3.1%
Shares of MCB traded down $2.31 during trading hours on Tuesday, reaching $73.21. The stock had a trading volume of 91,169 shares, compared to its average volume of 93,912. The firm has a 50-day moving average of $67.11 and a 200 day moving average of $61.31. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.24. The company has a market cap of $780.42 million, a P/E ratio of 12.39 and a beta of 1.08. Metropolitan Bank Holding Corp. has a 52 week low of $40.21 and a 52 week high of $75.88.
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 analysts' consensus estimates of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. During the same period in the previous year, the company posted $1.46 earnings per share. On average, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Mark R. Defazio sold 23,114 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $65.43, for a total value of $1,512,349.02. Following the completion of the sale, the chief executive officer directly owned 94,185 shares in the company, valued at approximately $6,162,524.55. This trade represents a 19.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Norman Scott sold 3,293 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $60.57, for a total value of $199,457.01. Following the transaction, the senior vice president directly owned 12,546 shares in the company, valued at approximately $759,911.22. This trade represents a 20.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,450 shares of company stock valued at $4,005,911 in the last quarter. Company insiders own 6.09% of the company's stock.
Metropolitan Bank Company Profile
(
Free Report)
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.
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