Renaissance Technologies LLC Trims Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Renaissance Technologies LLC cut its stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 52.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,400 shares of the company's stock after selling 17,100 shares during the period. Renaissance Technologies LLC owned 0.14% of Metropolitan Bank worth $899,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in shares of Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after purchasing an additional 161 shares during the period. USA Financial Formulas bought a new position in Metropolitan Bank in the fourth quarter worth $66,000. R Squared Ltd purchased a new position in Metropolitan Bank during the fourth quarter valued at $91,000. KLP Kapitalforvaltning AS bought a new stake in shares of Metropolitan Bank during the 4th quarter valued at $128,000. Finally, Virtu Financial LLC purchased a new stake in shares of Metropolitan Bank in the 4th quarter worth about $221,000. 79.83% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Scott Lublin sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Norman Scott sold 3,293 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $60.57, for a total transaction of $199,457.01. Following the completion of the sale, the senior vice president now owns 12,546 shares in the company, valued at $759,911.22. This represents a 20.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,381 shares of company stock worth $1,361,248 over the last 90 days. 6.50% of the stock is currently owned by insiders.

Metropolitan Bank Price Performance

Shares of NYSE MCB opened at $62.06 on Thursday. Metropolitan Bank Holding Corp. has a fifty-two week low of $37.10 and a fifty-two week high of $69.56. The company has a 50 day simple moving average of $55.55 and a two-hundred day simple moving average of $59.30. The company has a market capitalization of $686.76 million, a price-to-earnings ratio of 10.48 and a beta of 0.95. 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 (NYSE:MCB - Get Free Report) last posted its quarterly 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). Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. The firm had revenue of $70.59 million for the quarter, compared to analysts' expectations of $67.62 million. During the same quarter in the previous year, the company earned $1.46 EPS. Analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.