Rhumbline Advisers Cuts Stock Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Rhumbline Advisers reduced its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Metropolitan Bank by 21,710.5% during the first quarter. GAMMA Investing LLC now owns 33,370 shares of the company's stock worth $1,868,000 after purchasing an additional 33,217 shares in the last quarter. Wellington Management Group LLP purchased a new position in Metropolitan Bank in the fourth quarter valued at about $12,109,000. Man Group plc increased its holdings in Metropolitan Bank by 44.4% in the fourth quarter. Man Group plc now owns 7,236 shares of the company's stock valued at $423,000 after buying an additional 2,226 shares in the last quarter. Numerai GP LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter worth approximately $540,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Metropolitan Bank by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,020 shares of the company's stock worth $352,000 after purchasing an additional 182 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Metropolitan Bank

In related news, SVP Norman Scott sold 3,293 shares of Metropolitan Bank stock in a transaction on Friday, April 25th. The shares were sold at an average price of $60.57, for a total value of $199,457.01. Following the completion of the sale, the senior vice president now owns 12,546 shares of the company's stock, valued at approximately $759,911.22. This trade represents a 20.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Dixiana M. Berrios sold 6,250 shares of Metropolitan Bank stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $64.00, for a total transaction of $400,000.00. Following the completion of the sale, the chief operating officer now directly owns 13,606 shares of the company's stock, valued at approximately $870,784. The trade was a 31.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,200 shares of company stock worth $3,586,949 in the last quarter. 6.09% of the stock is owned by company insiders.

Metropolitan Bank Stock Up 3.2%

MCB stock traded up $2.07 during midday trading on Monday, reaching $67.02. The company had a trading volume of 51,892 shares, compared to its average volume of 92,272. The company has a market capitalization of $714.43 million, a P/E ratio of 11.34 and a beta of 1.08. The company has a 50 day moving average of $63.33 and a two-hundred day moving average of $60.34. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. Metropolitan Bank Holding Corp. has a 1 year low of $38.56 and a 1 year high of $69.56.

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 (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.16). The company had revenue of $70.59 million during the quarter, compared to analyst estimates of $67.62 million. Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, equities research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.