Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC lowered its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,731 shares of the company’s stock after selling 27,349 shares during the period. Metropolitan Bank comprises 2.4% of Pacific Ridge Capital Partners LLC’s investment portfolio, making the stock its 5th biggest position. Pacific Ridge Capital Partners LLC owned approximately 1.63% of Metropolitan Bank worth $10,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in MCB. Picton Mahoney Asset Management raised its holdings in Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank in the 4th quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Metropolitan Bank by 212.7% in 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 in the last quarter. R Squared Ltd purchased a new stake in shares of Metropolitan Bank during the 4th quarter worth $91,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Metropolitan Bank during the fourth quarter worth $128,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Price Performance

Shares of MCB opened at $57.17 on Thursday. The firm has a fifty day moving average price of $59.84 and a 200 day moving average price of $58.90. The stock has a market cap of $641.74 million, a PE ratio of 9.66 and a beta of 1.17. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00.

Metropolitan Bank (NYSE:MCB) 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 return on equity of 10.89% and a net margin of 13.55%. As a group, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Analyst Ratings Changes

A number of 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 research note on Friday, December 13th. Keefe, Bruyette & Woods raised their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Hovde Group upped their price target on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, January 27th.

Insider Buying and Selling at Metropolitan Bank

In related 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 completion of the sale, the director now owns 17,668 shares in the company, valued at $1,100,186.36. This represents a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the sale, the executive vice president now owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,088 shares of company stock worth $1,161,791. 6.50% of the stock is 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.