Millennium Management LLC Lowers Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Millennium Management LLC decreased its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 88.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,434 shares of the company's stock after selling 80,795 shares during the quarter. Millennium Management LLC owned about 0.09% of Metropolitan Bank worth $609,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MCB. Picton Mahoney Asset Management raised its stake 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 worth $30,000 after purchasing an additional 161 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Metropolitan Bank in the fourth quarter worth $128,000. Virtu Financial LLC purchased a new position in shares of Metropolitan Bank in the fourth quarter worth $221,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Metropolitan Bank by 3.1% in the fourth 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. Finally, MetLife Investment Management LLC raised its stake in shares of Metropolitan Bank by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 6,239 shares of the company's stock worth $364,000 after purchasing an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company's stock.

Insider Activity at Metropolitan Bank

In related news, CEO Mark R. Defazio sold 15,088 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the sale, the chief executive officer now owns 100,628 shares in the company, valued at approximately $5,512,401.84. This represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Dixiana M. Berrios sold 6,250 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $64.00, for a total value of $400,000.00. Following the sale, the chief operating officer now directly owns 13,606 shares of the company's stock, valued at $870,784. This represents a 31.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,657 shares of company stock worth $1,700,473. 6.09% of the stock is owned by insiders.

Metropolitan Bank Stock Up 2.9%

Metropolitan Bank stock opened at $65.52 on Friday. The stock has a market cap of $698.48 million, a PE ratio of 11.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank Holding Corp. has a one year low of $37.10 and a one year high of $69.56. The stock has a fifty day moving average of $60.12 and a 200 day moving average of $60.44.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $67.62 million. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. During the same quarter last year, the company posted $1.46 EPS. As a group, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current 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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