Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 19.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,646 shares of the company’s stock after selling 17,547 shares during the period. Assenagon Asset Management S.A. owned approximately 0.64% of Metropolitan Bank worth $4,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Kings Path Partners LLC boosted its stake in Metropolitan Bank by 11.2% in the fourth quarter. Kings Path Partners LLC now owns 14,110 shares of the company’s stock valued at $824,000 after acquiring an additional 1,420 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Metropolitan Bank by 74.8% in the third quarter. JPMorgan Chase & Co. now owns 8,173 shares of the company’s stock valued at $430,000 after acquiring an additional 3,497 shares in the last quarter. Franklin Resources Inc. boosted its stake in Metropolitan Bank by 44.8% in the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock valued at $4,751,000 after acquiring an additional 25,654 shares in the last quarter. Barclays PLC raised its holdings in shares of Metropolitan Bank by 54.1% in the third quarter. Barclays PLC now owns 23,461 shares of the company’s stock worth $1,233,000 after buying an additional 8,233 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Metropolitan Bank in the third quarter worth $357,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Metropolitan Bank news, Director Robert C. Patent sold 1,000 shares of Metropolitan Bank stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $55.32, for a total value of $55,320.00. Following the completion of the transaction, the director now owns 79,133 shares of the company’s stock, valued at approximately $4,377,637.56. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction on 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 transaction, the executive vice president now directly owns 30,193 shares of the company’s stock, valued at $1,967,677.81. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,250 shares of company stock valued at $313,093 over the last 90 days. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Up 0.8 %

Shares of Metropolitan Bank stock opened at $60.95 on Tuesday. 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 $62.20 and a 200 day moving average price of $55.49. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. The stock has a market cap of $682.58 million, a PE ratio of 11.46 and a beta of 1.17.

Analyst Ratings Changes

A number of research firms have issued reports on MCB. Hovde Group raised their price target on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Piper Sandler raised their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

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.