Geode Capital Management LLC Reduces Stock Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Geode Capital Management LLC decreased its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,331 shares of the company’s stock after selling 1,196 shares during the quarter. Geode Capital Management LLC owned 2.18% of Metropolitan Bank worth $14,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management boosted 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 in the last quarter. USA Financial Formulas purchased a new stake in shares of Metropolitan Bank in the 4th quarter worth about $66,000. R Squared Ltd acquired a new stake in Metropolitan Bank in the 4th quarter valued at about $91,000. KLP Kapitalforvaltning AS purchased a new position in Metropolitan Bank during the 4th quarter valued at about $128,000. Finally, Virtu Financial LLC acquired a new position in Metropolitan Bank during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Buying and Selling at Metropolitan Bank

In other news, Director Dale C. Fredston sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the transaction, the director now 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 SEC, which is available through this link. Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction dated 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 owns 100,628 shares in the company, valued at approximately $5,512,401.84. The trade was a 13.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,088 shares of company stock worth $1,161,791. Insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group raised their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, January 27th.

Metropolitan Bank Trading Up 1.9 %

Metropolitan Bank stock opened at $54.43 on Monday. The stock has a market cap of $610.92 million, a PE ratio of 9.19 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. The stock has a 50-day moving average price of $55.80 and a 200 day moving average price of $59.04. Metropolitan Bank Holding Corp. has a 52 week low of $37.10 and a 52 week high of $69.56.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. Equities research analysts predict that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

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.