Fmr LLC Sells 94,834 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

FMR LLC reduced its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 911,408 shares of the company's stock after selling 94,834 shares during the quarter. FMR LLC owned about 8.14% of Metropolitan Bank worth $47,922,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in Metropolitan Bank during the second quarter worth about $27,000. CWM LLC increased its stake in Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company's stock valued at $33,000 after acquiring an additional 323 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Metropolitan Bank during the second quarter valued at about $74,000. The Manufacturers Life Insurance Company bought a new position in Metropolitan Bank during the third quarter valued at about $207,000. Finally, Point72 Asset Management L.P. increased its stake in Metropolitan Bank by 104.5% during the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company's stock valued at $189,000 after acquiring an additional 2,300 shares during the period. 79.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Metropolitan Bank

In other news, SVP Norman Scott sold 1,473 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the transaction, the senior vice president now directly owns 11,732 shares of the company's stock, valued at $679,517.44. The trade was a 11.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,973 shares of company stock valued at $291,024 in the last three months. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank Price Performance

NYSE MCB traded down $0.10 during trading on Friday, reaching $65.45. 41,039 shares of the company traded hands, compared to its average volume of 87,159. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The stock's 50 day moving average price is $59.52 and its two-hundred day moving average price is $51.18. The company has a market cap of $733.04 million, a price-to-earnings ratio of 12.30 and a beta of 1.16. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.31. The company had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. As a group, analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Hovde Group boosted their price target on Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on Metropolitan Bank from $73.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday.

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.