Harbor Advisors LLC Sells 4,811 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

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

A number of other hedge funds and other institutional investors have also modified their holdings of MCB. Victory Capital Management Inc. acquired a new position in Metropolitan Bank in the 3rd quarter valued at $348,000. Thrivent Financial for Lutherans grew its stake in Metropolitan Bank by 14.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 22,905 shares of the company’s stock valued at $1,204,000 after buying an additional 2,811 shares during the last quarter. Quest Partners LLC grew its stake in Metropolitan Bank by 485.7% in the 3rd quarter. Quest Partners LLC now owns 8,458 shares of the company’s stock valued at $445,000 after buying an additional 7,014 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Metropolitan Bank in the 3rd quarter valued at $1,893,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Metropolitan Bank in the 3rd quarter valued at $431,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler raised 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. Finally, Hovde Group raised their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, January 27th.

Insiders Place Their Bets

In other news, EVP Scott Lublin sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dale C. Fredston sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the transaction, the director now directly owns 17,668 shares of the company’s stock, valued at $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 21,088 shares of company stock worth $1,161,791 in the last ninety days. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

NYSE MCB opened at $55.18 on Friday. 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 price-to-earnings ratio of 9.32 and a beta of 1.17. The company’s fifty day moving average is $59.99 and its two-hundred day moving average is $58.77. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. Equities research analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current 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.