Rafferty Asset Management LLC Sells 4,008 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

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

Several other institutional investors have also made changes to their positions in MCB. Picton Mahoney Asset Management increased its stake in Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock worth $30,000 after acquiring an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 in the last quarter. Alliancebernstein L.P. grew its holdings 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 worth $3,131,000 after purchasing an additional 508 shares in the last quarter. Barclays PLC increased its position in shares of Metropolitan Bank by 2.4% in the fourth quarter. Barclays PLC now owns 24,013 shares of the company's stock worth $1,401,000 after purchasing an additional 552 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Metropolitan Bank by 9.8% in the fourth quarter. MetLife Investment Management LLC now owns 6,239 shares of the company's stock valued at $364,000 after purchasing an additional 556 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Hovde Group upped their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th.

Insider Activity at Metropolitan Bank

In related news, CEO Mark R. Defazio sold 15,088 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the transaction, the chief executive officer now directly owns 100,628 shares in the company, valued at $5,512,401.84. This represents a 13.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Dixiana M. Berrios sold 6,250 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $64.00, for a total transaction 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. The trade was a 31.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,657 shares of company stock valued at $1,700,473 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank Stock Performance

Shares of NYSE:MCB opened at $65.22 on Thursday. The company's 50 day simple moving average is $58.10 and its 200 day simple moving average is $60.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank Holding Corp. has a 1 year low of $37.10 and a 1 year high of $69.56. The stock has a market capitalization of $695.21 million, a price-to-earnings ratio of 11.02 and a beta of 1.11.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued 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). Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. The business had revenue of $70.59 million during the quarter, compared to the consensus estimate of $67.62 million. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, research analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

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.

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