Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Harbor Advisors LLC

Harbor Advisors LLC reduced its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,500 shares of the company’s stock after selling 4,811 shares during the period. Harbor Advisors LLC owned 0.28% of Metropolitan Bank worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MCB. Victory Capital Management Inc. acquired a new stake in Metropolitan Bank during the third quarter valued at approximately $348,000. Thrivent Financial for Lutherans lifted its stake in Metropolitan Bank by 14.0% during the third quarter. Thrivent Financial for Lutherans now owns 22,905 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,811 shares during the last quarter. Quest Partners LLC lifted its stake in Metropolitan Bank by 485.7% during the third quarter. Quest Partners LLC now owns 8,458 shares of the company’s stock valued at $445,000 after purchasing an additional 7,014 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Metropolitan Bank during the third quarter valued at approximately $1,893,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Metropolitan Bank during the third quarter valued at approximately $431,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on MCB shares. Piper Sandler increased their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods boosted their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Hovde Group boosted their price target on shares of 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 Up 0.1 %

MCB stock opened at $55.18 on Friday. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56. The company’s 50 day simple moving average is $59.99 and its 200-day simple moving average is $58.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $619.38 million, a P/E ratio of 9.32 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. As a group, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank 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 value of $826,520.64. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,088 shares of company stock worth $1,161,791. 6.50% of the stock is currently owned by company insiders.

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.