Assenagon Asset Management S.A. Cuts Stake in Metropolitan Bank Holding Corp. (NYSE:MCB)

Assenagon Asset Management S.A. trimmed its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 19.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,646 shares of the company's stock after selling 17,547 shares during the period. Assenagon Asset Management S.A. owned approximately 0.64% of Metropolitan Bank worth $4,184,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MCB. Point72 DIFC Ltd bought a new stake in shares of Metropolitan Bank during the second quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock worth $71,000 after buying an additional 921 shares during the last quarter. CWM LLC increased its position in shares of Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company's stock worth $94,000 after acquiring an additional 996 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Metropolitan Bank in the 3rd quarter worth about $207,000. Finally, Point72 Asset Management L.P. lifted its position in Metropolitan Bank by 104.5% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Scott Lublin sold 3,000 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the completion of the transaction, the executive vice president now owns 52,253 shares in the company, valued at $3,070,908.81. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert C. Patent sold 1,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total value of $55,320.00. Following the transaction, the director now owns 79,133 shares of the company's stock, valued at approximately $4,377,637.56. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,250 shares of company stock valued at $313,093. 6.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MCB. Keefe, Bruyette & Woods increased their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. 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 report on Monday, October 21st. Finally, Piper Sandler lifted their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th.

Metropolitan Bank Trading Up 0.8 %

NYSE:MCB opened at $60.95 on Tuesday. The firm's 50 day moving average is $62.20 and its 200 day moving average is $55.49. Metropolitan Bank Holding Corp. has a 12 month low of $32.46 and a 12 month high of $69.56. The stock has a market capitalization of $682.58 million, a PE ratio of 11.46 and a beta of 1.17. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

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.