Northern Trust Corp Sells 3,192 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Northern Trust Corp trimmed its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 3.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 102,147 shares of the company’s stock after selling 3,192 shares during the quarter. Northern Trust Corp’s holdings in Metropolitan Bank were worth $5,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MCB. JPMorgan Chase & Co. lifted its position in shares of Metropolitan Bank by 74.8% during the third quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company’s stock worth $430,000 after acquiring an additional 3,497 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Metropolitan Bank by 9.1% during the fourth quarter. SG Americas Securities LLC now owns 9,342 shares of the company’s stock worth $546,000 after acquiring an additional 781 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Metropolitan Bank during the fourth quarter worth $302,000. R Squared Ltd purchased a new stake in shares of Metropolitan Bank during the fourth quarter worth $91,000. Finally, Sippican Capital Advisors lifted its position in shares of Metropolitan Bank by 41.2% during the fourth quarter. Sippican Capital Advisors now owns 18,296 shares of the company’s stock worth $1,068,000 after acquiring an additional 5,342 shares in the last quarter. 79.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Metropolitan Bank news, 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 sale, the executive vice president now owns 49,988 shares in the company, valued at $2,729,344.80. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Norman Scott sold 3,293 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $60.57, for a total value of $199,457.01. Following the sale, the senior vice president now owns 12,546 shares in the company, valued at $759,911.22. The trade was a 20.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,657 shares of company stock worth $1,700,473. Corporate insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Up 0.6%

NYSE:MCB opened at $66.87 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank Holding Corp. has a 1 year low of $37.10 and a 1 year high of $69.56. The company has a market cap of $712.83 million, a P/E ratio of 11.30 and a beta of 1.11. The stock’s fifty day moving average price is $57.61 and its two-hundred day moving average price is $60.16.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data 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). Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. The business had revenue of $70.59 million during the quarter, compared to analysts’ expectations of $67.62 million. During the same quarter last year, the business posted $1.46 EPS. As a group, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.