Wellington Management Group LLP Takes $12.11 Million Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Wellington Management Group LLP purchased a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 207,351 shares of the company's stock, valued at approximately $12,109,000. Wellington Management Group LLP owned approximately 1.85% of Metropolitan Bank as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Metropolitan Bank by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company's stock valued at $37,689,000 after buying an additional 10,545 shares during the last quarter. American Century Companies Inc. lifted its position in Metropolitan Bank by 14.2% during the fourth quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock valued at $14,343,000 after acquiring an additional 30,547 shares during the last quarter. JPMorgan Chase & Co. lifted 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 valued at $8,718,000 after acquiring an additional 141,107 shares during the last quarter. Franklin Resources Inc. boosted its stake in Metropolitan Bank by 44.8% in the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company's stock valued at $4,751,000 after acquiring an additional 25,654 shares in the last quarter. Finally, Salzhauer Michael increased its position in shares of Metropolitan Bank by 15.5% during the fourth quarter. Salzhauer Michael now owns 41,703 shares of the company's stock worth $2,435,000 after purchasing an additional 5,598 shares in the last quarter. Hedge funds and other institutional investors own 79.83% of the company's stock.

Analysts Set New Price Targets

Separately, Hovde Group raised 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.

Insider Activity at Metropolitan Bank

In other news, Director Dale C. Fredston sold 1,000 shares of the company's stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Defazio sold 15,088 shares of the firm's stock in a transaction on Monday, March 17th. The stock was 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 approximately $5,512,401.84. This trade represents a 13.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,088 shares of company stock worth $1,161,791 over the last quarter. Insiders own 6.50% of the company's stock.

Metropolitan Bank Stock Performance

Shares of NYSE MCB traded up $1.84 during midday trading on Tuesday, reaching $52.60. The company had a trading volume of 7,035 shares, compared to its average volume of 91,406. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. The business's 50-day simple moving average is $56.62 and its 200 day simple moving average is $59.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market cap of $590.38 million, a P/E ratio of 8.88 and a beta of 0.95.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates 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, analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal 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.