Jacobs Levy Equity Management Inc. Reduces Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 24.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,278 shares of the company's stock after selling 17,996 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.50% of Metropolitan Bank worth $2,959,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company's stock valued at $33,000 after acquiring an additional 323 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Metropolitan Bank by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company's stock valued at $769,000 after purchasing an additional 367 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Metropolitan Bank in the second quarter valued at approximately $27,000. Verition Fund Management LLC raised its holdings in Metropolitan Bank by 12.0% during the third quarter. Verition Fund Management LLC now owns 6,553 shares of the company's stock worth $345,000 after purchasing an additional 700 shares in the last quarter. Finally, Salzhauer Michael lifted its position in shares of Metropolitan Bank by 2.3% during the 2nd quarter. Salzhauer Michael now owns 38,100 shares of the company's stock worth $1,604,000 after buying an additional 842 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Insider Activity at Metropolitan Bank

In related news, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction on Friday, October 4th. The shares were 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 $1,733,767.02. This trade represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Norman Scott sold 1,473 shares of the company's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the transaction, the senior vice president now owns 11,732 shares of the company's stock, valued at approximately $679,517.44. The trade was a 11.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,973 shares of company stock worth $291,024 in the last quarter. Company insiders own 6.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on MCB shares. Hovde Group increased their target price on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods raised their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday.

Metropolitan Bank Stock Performance

Shares of MCB traded down $0.10 during mid-day trading on Friday, reaching $65.45. 41,039 shares of the company's stock were exchanged, compared to its average volume of 87,159. The business's fifty day simple moving average is $59.52 and its 200-day simple moving average is $51.22. The stock has a market capitalization of $733.04 million, a PE ratio of 12.30 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. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The company had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. On average, equities research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share 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.