Rafferty Asset Management LLC Cuts Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Rafferty Asset Management LLC trimmed its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,728 shares of the company's stock after selling 4,008 shares during the period. Rafferty Asset Management LLC owned approximately 0.12% of Metropolitan Bank worth $802,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MCB. Picton Mahoney Asset Management lifted its holdings in shares of Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after buying an additional 161 shares during the period. R Squared Ltd bought a new position in shares of Metropolitan Bank during the 4th quarter valued at $91,000. KLP Kapitalforvaltning AS bought a new position in shares of Metropolitan Bank during the 4th quarter valued at $128,000. Virtu Financial LLC bought a new position in shares of Metropolitan Bank during the 4th quarter valued at $221,000. Finally, PFG Investments LLC bought a new position in shares of Metropolitan Bank during the 4th quarter valued at $302,000. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group increased their price target on Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a report on Monday, January 27th.

Metropolitan Bank Stock Performance

Metropolitan Bank stock traded up $0.74 during trading on Tuesday, reaching $64.48. The company had a trading volume of 7,656 shares, compared to its average volume of 92,728. Metropolitan Bank Holding Corp. has a 52 week low of $37.10 and a 52 week high of $69.56. The firm's 50-day simple moving average is $58.61 and its 200 day simple moving average is $60.37. The firm has a market capitalization of $687.30 million, a price-to-earnings ratio of 10.89 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its earnings results on Monday, April 21st. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). The company had revenue of $70.59 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.46 earnings per share. Sell-side analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the sale, the executive vice president now directly owns 49,988 shares of the company's stock, valued at $2,729,344.80. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Dixiana M. Berrios sold 6,250 shares of the firm'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 in the company, valued at approximately $870,784. This represents a 31.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,657 shares of company stock valued at $1,700,473 over the last ninety days. 6.09% of the stock is currently owned by company insiders.

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.