Harbor Advisors LLC Sells 4,811 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

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

Other hedge funds have also added to or reduced their stakes in the company. Basswood Capital Management L.L.C. raised 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 acquiring an additional 388,200 shares during the period. American Century Companies Inc. raised its position in shares of Metropolitan Bank by 14.2% in the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock valued at $14,343,000 after buying an additional 30,547 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Metropolitan Bank by 44.8% during the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock worth $4,751,000 after acquiring an additional 25,654 shares during the period. Algert Global LLC increased its stake in shares of Metropolitan Bank by 100.6% in the 3rd quarter. Algert Global LLC now owns 44,030 shares of the company's stock valued at $2,315,000 after purchasing an additional 22,077 shares during the last quarter. Finally, Salzhauer Michael boosted its stake in Metropolitan Bank by 15.5% in the fourth quarter. Salzhauer Michael now owns 41,703 shares of the company's stock valued at $2,435,000 after buying an additional 5,598 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCB. Hovde Group boosted their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th. 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th.

Metropolitan Bank Trading Down 0.2 %

Shares of MCB traded down $0.11 during trading hours on Thursday, hitting $57.12. 96,520 shares of the stock were exchanged, compared to its average volume of 86,297. The firm has a market capitalization of $641.18 million, a P/E ratio of 9.65 and a beta of 1.17. 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 Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The business has a 50-day moving average of $59.84 and a 200-day moving average of $58.90.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 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, research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Insider Activity at Metropolitan Bank

In related news, CEO Mark R. Defazio sold 15,088 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction of $826,520.64. Following the transaction, the chief executive officer now directly owns 100,628 shares of the company's stock, valued at $5,512,401.84. This trade represents a 13.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dale C. Fredston sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the transaction, the director now directly owns 17,668 shares of the company's stock, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,088 shares of company stock valued at $1,161,791 in the last three months. Corporate 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.