Renaissance Technologies LLC Has $899,000 Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Renaissance Technologies LLC decreased its position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,400 shares of the company's stock after selling 17,100 shares during the period. Renaissance Technologies LLC owned about 0.14% of Metropolitan Bank worth $899,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MCB. Barclays PLC boosted its position in shares of Metropolitan Bank by 54.1% during the 3rd quarter. Barclays PLC now owns 23,461 shares of the company's stock valued at $1,233,000 after acquiring an additional 8,233 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock valued at $4,751,000 after purchasing an additional 25,654 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Metropolitan Bank by 74.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company's stock valued at $430,000 after purchasing an additional 3,497 shares during the period. Kings Path Partners LLC raised its holdings in shares of Metropolitan Bank by 11.2% in the 4th quarter. Kings Path Partners LLC now owns 14,110 shares of the company's stock worth $824,000 after buying an additional 1,420 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of Metropolitan Bank during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 79.83% of the company's stock.

Insiders Place Their Bets

In related news, COO Dixiana M. Berrios sold 6,250 shares of Metropolitan Bank stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $64.00, for a total value of $400,000.00. Following the completion of the sale, the chief operating officer now directly owns 13,606 shares in the company, valued at $870,784. This trade represents a 31.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dale C. Fredston sold 1,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the transaction, the director now owns 17,668 shares in the company, valued at approximately $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,657 shares of company stock valued at $1,762,743 in the last 90 days. 6.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Metropolitan Bank Price Performance

Shares of NYSE MCB traded down $0.53 during mid-day trading on Tuesday, hitting $63.66. 95,543 shares of the stock were exchanged, compared to its average volume of 93,129. The company has a market cap of $704.42 million, a P/E ratio of 10.75 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 twelve month low of $37.10 and a twelve month high of $69.56. The stock's fifty day simple moving average is $55.89 and its two-hundred day simple moving average is $59.40.

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 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 firm posted $1.46 EPS. As a group, analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

About Metropolitan Bank

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.