Millennium Management LLC Reduces Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Millennium Management LLC lowered its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 88.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,434 shares of the company's stock after selling 80,795 shares during the period. Millennium Management LLC owned about 0.09% of Metropolitan Bank worth $609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Metropolitan Bank by 1,726.5% in the fourth quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock worth $8,718,000 after purchasing an additional 141,107 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Metropolitan Bank by 68.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company's stock worth $807,000 after purchasing an additional 5,624 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Metropolitan Bank in the fourth quarter worth $1,405,000. Wells Fargo & Company MN lifted its position in shares of Metropolitan Bank by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 6,511 shares of the company's stock valued at $380,000 after buying an additional 1,320 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Metropolitan Bank by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 53,617 shares of the company's stock valued at $3,131,000 after buying an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company's stock.

Insider Activity

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the sale, the executive vice president now owns 49,988 shares in the company, valued at approximately $2,729,344.80. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the completion of the sale, the chief executive officer now owns 100,628 shares of the company's stock, valued at approximately $5,512,401.84. This trade represents a 13.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,657 shares of company stock worth $1,700,473. 6.09% of the stock is currently owned by insiders.

Metropolitan Bank Stock Performance

Shares of NYSE MCB traded down $0.18 during trading on Wednesday, reaching $65.82. 93,471 shares of the stock traded hands, compared to its average volume of 92,837. Metropolitan Bank Holding Corp. has a 52-week low of $37.10 and a 52-week high of $69.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $60.93 and a 200-day moving average of $60.47. The stock has a market capitalization of $701.64 million, a P/E ratio of 11.12 and a beta of 1.08.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $70.59 million for the quarter, compared to analysts' expectations of $67.62 million. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. During the same period last year, the company posted $1.46 EPS. Analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS 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.