BNP Paribas Financial Markets Sells 12,559 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

BNP Paribas Financial Markets reduced its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,475 shares of the company’s stock after selling 12,559 shares during the quarter. BNP Paribas Financial Markets owned 0.31% of Metropolitan Bank worth $2,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Metropolitan Bank by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 645,360 shares of the company’s stock worth $37,689,000 after buying an additional 10,545 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Metropolitan Bank by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company’s stock worth $17,008,000 after buying an additional 41,449 shares in the last quarter. American Century Companies Inc. lifted its position in Metropolitan Bank by 14.2% during the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company’s stock worth $14,343,000 after buying an additional 30,547 shares in the last quarter. Banc Funds Co. LLC lifted its position in Metropolitan Bank by 1.2% during the 4th quarter. Banc Funds Co. LLC now owns 243,254 shares of the company’s stock worth $14,206,000 after buying an additional 3,000 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in Metropolitan Bank during the 4th quarter worth about $12,109,000. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Stock Down 1.3%

Shares of MCB stock opened at $65.94 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day moving average is $57.34 and its 200-day moving average is $60.02. The stock has a market cap of $702.92 million, a price-to-earnings ratio of 11.14 and a beta of 1.11. 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 issued its earnings results on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.16). The firm had revenue of $70.59 million during the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. During the same period in the previous year, the company posted $1.46 earnings per share. Sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, EVP Scott Lublin sold 5,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the transaction, the executive vice president now owns 49,988 shares in the company, valued at approximately $2,729,344.80. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Norman Scott sold 3,293 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $60.57, for a total transaction of $199,457.01. Following the completion of the transaction, the senior vice president now owns 12,546 shares in the company, valued at approximately $759,911.22. This trade represents a 20.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,657 shares of company stock valued at $1,700,473. 6.50% of the stock is owned by company 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.