Thrivent Financial for Lutherans Lowers Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Thrivent Financial for Lutherans trimmed its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 54.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,467 shares of the company's stock after selling 12,438 shares during the period. Thrivent Financial for Lutherans owned 0.09% of Metropolitan Bank worth $611,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management lifted its holdings in shares of Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock worth $30,000 after buying an additional 161 shares in the last quarter. USA Financial Formulas purchased a new stake in Metropolitan Bank in the 4th quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Metropolitan Bank by 212.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock valued at $71,000 after purchasing an additional 921 shares during the last quarter. R Squared Ltd purchased a new position in shares of Metropolitan Bank during the fourth quarter valued at about $91,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Metropolitan Bank in the third quarter worth about $207,000. Hedge funds and other institutional investors own 79.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on Metropolitan Bank from $67.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Hovde Group raised their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a report on Monday, January 27th.

Insider Activity

In related news, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the sale, the executive vice president now owns 49,988 shares in the company, valued at $2,729,344.80. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dale C. Fredston sold 1,000 shares of Metropolitan Bank stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the sale, the director now directly 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 have sold 21,088 shares of company stock valued at $1,161,791. 6.50% of the stock is currently owned by company insiders.

Metropolitan Bank Trading Down 0.7 %

MCB traded down $0.33 on Tuesday, hitting $48.83. The company had a trading volume of 139,376 shares, compared to its average volume of 91,260. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $57.91 and its 200 day simple moving average is $59.03. The company has a market cap of $548.16 million, a PE ratio of 8.25 and a beta of 0.95.

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 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%. Equities research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

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.