Metropolitan Bank Holding Corp. (NYSE:MCB) Position Raised by Harbor Advisors LLC

Harbor Advisors LLC raised its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 30.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,311 shares of the company's stock after buying an additional 8,528 shares during the quarter. Harbor Advisors LLC owned about 0.32% of Metropolitan Bank worth $1,909,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MCB. Vanguard Group Inc. increased its holdings in Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company's stock worth $24,216,000 after buying an additional 27,499 shares during the period. Basswood Capital Management L.L.C. lifted its holdings in Metropolitan Bank by 176.8% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company's stock valued at $31,958,000 after purchasing an additional 388,200 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Metropolitan Bank by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company's stock worth $7,847,000 after acquiring an additional 32,491 shares during the period. AQR Capital Management LLC increased its position in shares of Metropolitan Bank by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company's stock worth $5,486,000 after purchasing an additional 31,397 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Metropolitan Bank in the 2nd quarter valued at about $4,991,000. 79.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the firm's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the sale, the executive vice president now directly owns 31,443 shares of the company's stock, valued at approximately $1,733,767.02. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Patent sold 1,000 shares of Metropolitan Bank stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total value of $55,320.00. Following the completion of the transaction, the director now directly owns 79,133 shares in the company, valued at $4,377,637.56. This represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,973 shares of company stock valued at $291,024 over the last three months. 6.50% of the stock is currently owned by company insiders.

Metropolitan Bank Stock Down 3.0 %

MCB stock traded down $1.99 during trading on Tuesday, hitting $63.99. 77,293 shares of the company's stock were exchanged, compared to its average volume of 93,989. The business has a 50-day moving average price of $58.38 and a two-hundred day moving average price of $50.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $716.69 million, a price-to-earnings ratio of 12.03 and a beta of 1.16. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.31. The firm had revenue of $71.52 million during 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, equities research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

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.