Pacific Ridge Capital Partners LLC Sells 27,349 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Pacific Ridge Capital Partners LLC cut its position in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,731 shares of the company's stock after selling 27,349 shares during the period. Metropolitan Bank makes up 2.4% of Pacific Ridge Capital Partners LLC's holdings, making the stock its 5th largest position. Pacific Ridge Capital Partners LLC owned approximately 1.63% of Metropolitan Bank worth $10,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management lifted its holdings in Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock valued at $30,000 after acquiring an additional 161 shares during the period. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of 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 purchasing an additional 921 shares in the last quarter. R Squared Ltd acquired a new position in shares of Metropolitan Bank during the 4th quarter worth about $91,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Metropolitan Bank in the 4th quarter worth about $128,000. Institutional investors and hedge funds own 79.83% of the company's stock.

Insider Activity at Metropolitan Bank

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,988 shares of the company's stock, valued at $2,729,344.80. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dale C. Fredston sold 1,000 shares of Metropolitan Bank 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 completion of the transaction, the director now owns 17,668 shares of the company's stock, valued at $1,100,186.36. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,088 shares of company stock valued at $1,161,791. 6.50% of the stock is owned by company insiders.

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Metropolitan Bank Price Performance

Shares of MCB stock traded up $0.09 during trading hours on Monday, reaching $55.70. The company had a trading volume of 17,739 shares, compared to its average volume of 89,394. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. The company has a market capitalization of $625.22 million, a price-to-earnings ratio of 9.40 and a beta of 1.17. 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 stock has a fifty day moving average of $59.66 and a 200-day moving average of $59.06.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MCB shares. Keefe, Bruyette & Woods raised their target price on Metropolitan Bank from $73.00 to $85.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Hovde Group raised their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a report on Monday, January 27th. 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 note on Friday, December 13th.

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.