Driehaus Capital Management LLC Cuts Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Driehaus Capital Management LLC trimmed its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCBGet Rating) by 41.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 158,950 shares of the company’s stock after selling 113,137 shares during the period. Driehaus Capital Management LLC owned approximately 1.45% of Metropolitan Bank worth $11,034,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Metropolitan Bank by 1.7% during the 1st quarter. BlackRock Inc. now owns 688,730 shares of the company’s stock valued at $70,092,000 after purchasing an additional 11,384 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Metropolitan Bank by 411.5% during the 2nd quarter. Macquarie Group Ltd. now owns 558,075 shares of the company’s stock valued at $38,742,000 after buying an additional 448,975 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Metropolitan Bank by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 517,360 shares of the company’s stock valued at $52,652,000 after buying an additional 1,713 shares during the period. State Street Corp lifted its holdings in shares of Metropolitan Bank by 22.1% during the 1st quarter. State Street Corp now owns 435,521 shares of the company’s stock valued at $44,323,000 after buying an additional 78,807 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Metropolitan Bank by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 186,102 shares of the company’s stock valued at $18,940,000 after buying an additional 5,648 shares during the period. 82.93% of the stock is currently owned by hedge funds and other institutional investors.

Metropolitan Bank Price Performance

NYSE MCB opened at $56.34 on Friday. The business’s fifty day moving average price is $65.27 and its 200-day moving average price is $69.48. The stock has a market capitalization of $615.80 million, a price-to-earnings ratio of 7.34 and a beta of 1.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.93. Metropolitan Bank Holding Corp. has a 1-year low of $55.11 and a 1-year high of $115.78.

Metropolitan Bank (NYSE:MCBGet Rating) last released its quarterly earnings results on Thursday, October 20th. The company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.11). The firm had revenue of $69.14 million for the quarter, compared to the consensus estimate of $67.31 million. Metropolitan Bank had a net margin of 33.54% and a return on equity of 15.14%. On average, equities analysts predict that Metropolitan Bank Holding Corp. will post 8.32 earnings per share for the current year.

Metropolitan Bank Profile

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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.

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Institutional Ownership by Quarter for Metropolitan Bank (NYSE:MCB)

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