Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Algert Global LLC

Algert Global LLC lessened its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 41,344 shares of the company’s stock after selling 2,686 shares during the period. Algert Global LLC’s holdings in Metropolitan Bank were worth $2,414,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Metropolitan Bank by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company’s stock valued at $37,689,000 after purchasing an additional 10,545 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Metropolitan Bank by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company’s stock valued at $17,008,000 after buying an additional 41,449 shares during the period. American Century Companies Inc. grew its position in shares of Metropolitan Bank by 14.2% during the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company’s stock valued at $14,343,000 after buying an additional 30,547 shares during the last quarter. Banc Funds Co. LLC raised its stake in Metropolitan Bank by 1.2% during the fourth quarter. Banc Funds Co. LLC now owns 243,254 shares of the company’s stock worth $14,206,000 after acquiring an additional 3,000 shares during the period. Finally, Wellington Management Group LLP bought a new position in Metropolitan Bank in the fourth quarter worth about $12,109,000. Institutional investors own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Metropolitan Bank

In related news, 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 value of $62,270.00. Following the completion of the sale, the director now owns 17,668 shares of the company’s stock, valued at $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction dated 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 owns 100,628 shares of the company’s stock, valued at $5,512,401.84. This represents a 13.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,657 shares of company stock worth $1,762,743. Company insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

MCB stock opened at $65.55 on Friday. The stock’s fifty day moving average is $56.07 and its two-hundred day moving average is $59.50. The stock has a market capitalization of $698.71 million, a price-to-earnings ratio of 11.07 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 1 year low of $37.10 and a 1 year high of $69.56.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Monday, April 21st. The company reported $1.45 earnings per share (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 analyst estimates of $67.62 million. During the same period in the previous year, the firm earned $1.46 earnings per share. On average, research analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Metropolitan Bank 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.