Russell Investments Group Ltd. Has $6.59 Million Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Russell Investments Group Ltd. cut its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,835 shares of the company's stock after selling 5,186 shares during the period. Russell Investments Group Ltd. owned about 1.01% of Metropolitan Bank worth $6,590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Metropolitan Bank by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company's stock valued at $37,689,000 after acquiring an additional 10,545 shares in the last quarter. American Century Companies Inc. boosted 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 purchasing an additional 30,547 shares during the period. Wellington Management Group LLP purchased a new position in Metropolitan Bank during the 4th quarter worth approximately $12,109,000. JPMorgan Chase & Co. increased its position in Metropolitan Bank by 1,726.5% during the fourth quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock worth $8,718,000 after buying an additional 141,107 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Metropolitan Bank by 20.6% in the fourth quarter. Franklin Resources Inc. now owns 100,033 shares of the company's stock valued at $5,842,000 after buying an additional 17,111 shares during the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

Metropolitan Bank Price Performance

Shares of MCB traded up $1.03 during mid-day trading on Friday, reaching $54.43. 99,060 shares of the company's stock were exchanged, compared to its average volume of 92,248. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week 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 company has a 50-day simple moving average of $55.98 and a two-hundred day simple moving average of $58.93. The company has a market cap of $610.92 million, a price-to-earnings ratio of 9.19 and a beta of 0.95.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its 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 net margin of 13.55% and a return on equity of 10.89%. On average, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped 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 Transactions at Metropolitan Bank

In other Metropolitan Bank news, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction on Monday, March 17th. The shares were 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 owns 49,988 shares of the company's stock, valued at $2,729,344.80. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dale C. Fredston sold 1,000 shares of the business's stock in a transaction dated 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 approximately $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 ninety days, insiders have sold 21,088 shares of company stock valued at $1,161,791. 6.50% of the stock is currently owned by insiders.

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.