Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,295 shares of the company’s stock after selling 2,616 shares during the period. Tower Research Capital LLC TRC’s holdings in Metropolitan Bank were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCB. Picton Mahoney Asset Management increased its position in Metropolitan Bank by 46.9% during the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank during the 4th quarter worth approximately $66,000. R Squared Ltd acquired a new position in Metropolitan Bank in the fourth quarter valued at approximately $91,000. KLP Kapitalforvaltning AS acquired a new position in Metropolitan Bank in the fourth quarter valued at approximately $128,000. Finally, Virtu Financial LLC acquired a new stake in Metropolitan Bank during the fourth quarter worth $221,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Metropolitan Bank Price Performance

MCB stock opened at $63.52 on Friday. The business’s fifty day moving average price is $55.74 and its 200 day moving average price is $59.36. Metropolitan Bank Holding Corp. has a 12-month low of $37.10 and a 12-month high of $69.56. The company has a market capitalization of $702.91 million, a PE ratio of 10.73 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to analyst estimates of $67.62 million. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. During the same period in the prior year, the company posted $1.46 EPS. On average, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dale C. Fredston sold 1,000 shares of the firm’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 in the company, valued at approximately $1,100,186.36. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Norman Scott sold 3,293 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $60.57, for a total value of $199,457.01. Following the completion of the sale, the senior vice president now owns 12,546 shares in the company, valued at approximately $759,911.22. This represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,381 shares of company stock worth $1,361,248 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group increased their price target on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, January 27th.

About Metropolitan Bank

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.