The Manufacturers Life Insurance Company Sells 201 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

The Manufacturers Life Insurance Company trimmed its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,745 shares of the company’s stock after selling 201 shares during the period. The Manufacturers Life Insurance Company’s holdings in Metropolitan Bank were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MCB. Picton Mahoney Asset Management grew its holdings in Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. R Squared Ltd bought a new stake in Metropolitan Bank during the fourth quarter worth about $91,000. KLP Kapitalforvaltning AS bought a new position in shares of Metropolitan Bank in the fourth quarter worth approximately $128,000. Virtu Financial LLC bought a new position in shares of Metropolitan Bank in the fourth quarter worth approximately $221,000. Finally, PFG Investments LLC bought a new position in shares of Metropolitan Bank in the fourth quarter worth approximately $302,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $65.94 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average price of $57.34 and a 200-day moving average price of $60.02. Metropolitan Bank Holding Corp. has a 1 year low of $37.10 and a 1 year high of $69.56. The stock has a market cap of $702.92 million, a PE ratio of 11.14 and a beta of 1.11.

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

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, SVP Norman Scott sold 3,293 shares of the stock in a transaction on 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 $759,911.22. This trade represents a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Lublin sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the sale, the executive vice president now owns 49,988 shares of the company’s stock, valued at $2,729,344.80. This trade represents a 9.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,657 shares of company stock worth $1,700,473 over the last 90 days. 6.50% of the stock is owned by insiders.

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.