Emerald Mutual Fund Advisers Trust Decreases Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Emerald Mutual Fund Advisers Trust lessened its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 47.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,932 shares of the company's stock after selling 36,668 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.36% of Metropolitan Bank worth $2,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new stake in Metropolitan Bank in the first quarter valued at $1,876,000. Acadian Asset Management LLC boosted its stake in shares of Metropolitan Bank by 133.4% during the 1st quarter. Acadian Asset Management LLC now owns 48,548 shares of the company's stock valued at $1,867,000 after purchasing an additional 27,752 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Metropolitan Bank by 21.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 82,931 shares of the company's stock valued at $3,193,000 after buying an additional 14,547 shares during the period. Vanguard Group Inc. lifted its holdings in Metropolitan Bank by 4.6% in the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company's stock worth $24,216,000 after buying an additional 27,499 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Metropolitan Bank in the second quarter worth about $273,000. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Trading Down 0.2 %

MCB stock traded down $0.08 during midday trading on Monday, reaching $53.15. 53,565 shares of the company traded hands, compared to its average volume of 93,367. The firm has a market capitalization of $594.75 million, a price-to-earnings ratio of 10.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The business has a 50 day moving average of $53.18 and a 200-day moving average of $47.39. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $64.10.

Analysts Set New Price Targets

Several brokerages recently weighed in on MCB. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $67.50 price objective (up previously from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Hovde Group raised their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 23rd.

Insider Activity

In other news, Director Robert C. Patent sold 1,000 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now owns 79,133 shares in the company, valued at $4,377,637.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Nick Rosenberg sold 1,250 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the transaction, the executive vice president now owns 31,443 shares of the company's stock, valued at approximately $1,733,767.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert C. Patent sold 1,000 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total value of $55,320.00. Following the sale, the director now directly owns 79,133 shares of the company's stock, valued at approximately $4,377,637.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,723 shares of company stock valued at $209,561. Corporate insiders own 6.50% of the company's stock.

Metropolitan Bank Company 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.