Fmr LLC Has $47.92 Million Stock Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Fmr LLC lowered its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 911,408 shares of the company’s stock after selling 94,834 shares during the period. Fmr LLC owned approximately 8.14% of Metropolitan Bank worth $47,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Metropolitan Bank by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock worth $24,216,000 after buying an additional 27,499 shares during the period. American Century Companies Inc. raised its position in shares of Metropolitan Bank by 21.1% during the second quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after purchasing an additional 32,491 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Metropolitan Bank by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock worth $5,486,000 after purchasing an additional 31,397 shares in the last quarter. Millennium Management LLC acquired a new stake in Metropolitan Bank in the 2nd quarter valued at $4,991,000. Finally, Assenagon Asset Management S.A. increased its stake in Metropolitan Bank by 112.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock valued at $4,690,000 after purchasing an additional 47,193 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Trading Down 0.2 %

Shares of Metropolitan Bank stock opened at $65.45 on Friday. 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 fifty day simple moving average of $59.52 and a 200 day simple moving average of $51.18. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. The company has a market capitalization of $733.04 million, a P/E ratio of 12.30 and a beta of 1.16.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The firm had revenue of $71.52 million during the quarter, compared to analyst estimates of $66.70 million. On average, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Hovde Group raised their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upped their target price on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday.

Insiders Place Their Bets

In related news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the sale, the executive vice president now owns 30,193 shares in the company, valued at approximately $1,967,677.81. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert C. Patent sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total transaction of $55,320.00. Following the completion of the transaction, the director now owns 79,133 shares in the company, valued at approximately $4,377,637.56. The trade was a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,973 shares of company stock valued at $291,024. Corporate insiders own 6.50% of the company’s stock.

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.