Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 19.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,457 shares of the company's stock after selling 4,118 shares during the period. Rhumbline Advisers owned 0.16% of Metropolitan Bank worth $977,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Metropolitan Bank by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company's stock valued at $37,689,000 after purchasing an additional 10,545 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Metropolitan Bank by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company's stock worth $17,008,000 after acquiring an additional 41,449 shares in the last quarter. American Century Companies Inc. grew its stake in Metropolitan Bank by 14.2% during the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock valued at $14,343,000 after acquiring an additional 30,547 shares in the last quarter. Banc Funds Co. LLC increased its stake in shares of Metropolitan Bank by 1.2% in the fourth quarter. Banc Funds Co. LLC now owns 243,254 shares of the company's stock worth $14,206,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Metropolitan Bank in the fourth quarter worth approximately $12,109,000. Institutional investors and hedge funds own 79.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised their price target on Metropolitan Bank from $75.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday.

Insider Activity at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 23,114 shares of Metropolitan Bank stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 94,185 shares in the company, valued at $6,162,524.55. This trade represents 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 at the SEC website. Also, CEO Mark R. Defazio sold 20,517 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $65.43, for a total value of $1,342,427.31. Following the completion of the sale, the chief executive officer now directly owns 94,185 shares of the company's stock, valued at approximately $6,162,524.55. The trade was a 17.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,200 shares of company stock worth $3,455,729. 6.09% of the stock is owned by insiders.

Metropolitan Bank Stock Up 0.3%

Shares of NYSE MCB opened at $64.74 on Friday. The stock has a market cap of $690.14 million, a PE ratio of 10.95 and a beta of 1.08. The business has a fifty day moving average of $62.39 and a two-hundred day moving average of $60.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 0.98. Metropolitan Bank Holding Corp. has a 52-week low of $38.56 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). The firm had revenue of $70.59 million during the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 10.53%. During the same quarter in the previous year, the business posted $1.46 earnings per share. As a group, equities research analysts expect 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.

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