The Manufacturers Life Insurance Company Trims Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

The Manufacturers Life Insurance Company decreased its position in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Metropolitan Bank by 1,726.5% during the fourth quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company’s stock worth $8,718,000 after purchasing an additional 141,107 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Metropolitan Bank by 68.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company’s stock valued at $807,000 after purchasing an additional 5,624 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at about $1,405,000. Wells Fargo & Company MN boosted its position in Metropolitan Bank by 25.4% during the fourth quarter. Wells Fargo & Company MN now owns 6,511 shares of the company’s stock worth $380,000 after acquiring an additional 1,320 shares during the last quarter. Finally, PFG Investments LLC acquired a new position in Metropolitan Bank during the fourth quarter worth about $302,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Trading Down 1.3%

Shares of MCB stock opened at $65.94 on Monday. 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 stock has a market capitalization of $702.92 million, a P/E ratio of 11.14 and a beta of 1.11. The company has a 50 day moving average price of $57.34 and a 200 day moving average price of $60.02. Metropolitan Bank Holding Corp. has a fifty-two week low of $37.10 and a fifty-two week high of $69.56.

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

Insider Activity

In related news, EVP Scott Lublin sold 5,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $54.60, for a total value of $273,000.00. Following the completion of the sale, the executive vice president now owns 49,988 shares in the company, valued at $2,729,344.80. This represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Dixiana M. Berrios sold 6,250 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $64.00, for a total transaction of $400,000.00. Following the completion of the sale, the chief operating officer now owns 13,606 shares of the company’s stock, valued at $870,784. This trade represents a 31.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,657 shares of company stock worth $1,700,473. Corporate insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group lifted their target price 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.

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.