Emerald Mutual Fund Advisers Trust Trims Stock Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Emerald Mutual Fund Advisers Trust cut its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 8.7% during the 1st quarter, according to its most recent disclosure with the Securities & 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 & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MCB. Wellington Management Group LLP bought a new stake in shares of Metropolitan Bank during the fourth quarter valued at approximately $12,109,000. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 141,107 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Metropolitan Bank by 16.6% during the fourth 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 in the last quarter. Royce & Associates LP bought a new stake in shares of Metropolitan Bank during the fourth quarter valued at approximately $2,174,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Metropolitan Bank during the fourth quarter valued at approximately $1,982,000. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their target price on Metropolitan Bank from $75.00 to $79.00 and gave the stock an "outperform" rating in a report on Monday, June 16th.

Metropolitan Bank Stock Down 0.6%

Metropolitan Bank stock traded down $0.42 during mid-day trading on Friday, hitting $73.33. The company had a trading volume of 98,794 shares, compared to its average volume of 93,787. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. The stock's 50 day moving average price is $67.11 and its two-hundred day moving average price is $61.30. Metropolitan Bank Holding Corp. has a 12 month low of $40.21 and a 12 month high of $75.60. The company has a market capitalization of $781.69 million, a PE ratio of 12.41 and a beta of 1.08.

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 the consensus estimate of $1.61 by ($0.16). Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. The business had revenue of $70.59 million during the quarter, compared to analysts' expectations of $67.62 million. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Insider Transactions at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 23,114 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 94,185 shares in the company, valued at $6,162,524.55. The trade was a 19.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Lublin sold 5,000 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $65.03, for a total value of $325,150.00. Following the sale, the executive vice president owned 51,179 shares of the company's stock, valued at approximately $3,328,170.37. This trade represents a 8.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,450 shares of company stock valued at $4,005,911. Insiders own 6.09% of the company's stock.

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.