Harbor Advisors LLC Has $1.84 Million Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Harbor Advisors LLC lowered its stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,500 shares of the company's stock after selling 4,811 shares during the quarter. Harbor Advisors LLC owned approximately 0.28% of Metropolitan Bank worth $1,840,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Picton Mahoney Asset Management lifted its stake in Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Metropolitan Bank by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,348 shares of the company's stock worth $1,772,000 after buying an additional 595 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Metropolitan Bank by 12.0% in the 3rd quarter. Verition Fund Management LLC now owns 6,553 shares of the company's stock valued at $345,000 after acquiring an additional 700 shares during the last quarter. SG Americas Securities LLC grew its position in Metropolitan Bank by 9.1% during the 4th quarter. SG Americas Securities LLC now owns 9,342 shares of the company's stock worth $546,000 after acquiring an additional 781 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock worth $71,000 after purchasing an additional 921 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

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Metropolitan Bank Trading Up 0.8 %

Shares of MCB stock traded up $0.47 on Wednesday, hitting $57.17. The company had a trading volume of 103,062 shares, compared to its average volume of 86,609. The stock's 50-day moving average is $59.84 and its two-hundred day moving average is $58.90. 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 firm has a market cap of $641.74 million, a P/E ratio of 9.66 and a beta of 1.17. Metropolitan Bank Holding Corp. has a twelve month low of $32.46 and a twelve month high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. On average, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCB. Keefe, Bruyette & Woods lifted 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, December 4th. Hovde Group lifted their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, Piper Sandler upped their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, December 13th.

Insider Buying and Selling

In other Metropolitan Bank news, Director Dale C. Fredston sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the transaction, the director now directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Lublin sold 5,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.60, for a total transaction of $273,000.00. Following the transaction, the executive vice president now owns 49,988 shares in the company, valued at $2,729,344.80. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,088 shares of company stock valued at $1,161,791 over the last quarter. Insiders own 6.50% of the company's stock.

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.