Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,596 shares of the company’s stock after selling 1,463 shares during the period. Jane Street Group LLC owned 0.16% of Metropolitan Bank worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. boosted its position in shares of Metropolitan Bank by 176.8% in the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after buying an additional 388,200 shares during the period. American Century Companies Inc. lifted its position in Metropolitan Bank by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after acquiring an additional 32,491 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Metropolitan Bank by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock worth $5,486,000 after acquiring an additional 31,397 shares during the period. Millennium Management LLC acquired a new stake in Metropolitan Bank in the second quarter valued at approximately $4,991,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Metropolitan Bank by 112.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock valued at $4,690,000 after purchasing an additional 47,193 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Metropolitan Bank Stock Up 0.5 %

Shares of NYSE:MCB opened at $58.40 on Wednesday. The firm has a market cap of $653.96 million, a PE ratio of 10.98 and a beta of 1.16. The company has a fifty day simple moving average of $61.56 and a 200 day simple moving average of $53.67. 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 Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.31. The company had revenue of $71.52 million during the quarter, compared to analyst estimates of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. On average, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Scott Lublin sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the transaction, the executive vice president now directly owns 52,253 shares in the company, valued at $3,070,908.81. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the sale, the executive vice president now owns 30,193 shares of the company’s stock, valued at approximately $1,967,677.81. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,973 shares of company stock worth $467,334. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

MCB has been the subject of several analyst reports. Piper Sandler upped their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hovde Group raised their target price on Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted 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.

Metropolitan Bank Company 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.