Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Kings Path Partners LLC

Kings Path Partners LLC lowered its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 21.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,690 shares of the company’s stock after selling 3,530 shares during the quarter. Kings Path Partners LLC’s holdings in Metropolitan Bank were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new position in shares of Metropolitan Bank in the first quarter valued at approximately $1,876,000. Acadian Asset Management LLC boosted its holdings in shares of Metropolitan Bank by 133.4% in the first quarter. Acadian Asset Management LLC now owns 48,548 shares of the company’s stock valued at $1,867,000 after acquiring an additional 27,752 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Metropolitan Bank by 21.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 82,931 shares of the company’s stock valued at $3,193,000 after acquiring an additional 14,547 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Metropolitan Bank by 4.6% in the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after acquiring an additional 27,499 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Metropolitan Bank in the second quarter valued at approximately $273,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Lublin sold 1,005 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the completion of the transaction, the executive vice president now owns 57,077 shares of the company’s stock, valued at approximately $3,145,513.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total value of $1,936,125.24. Following the completion of the sale, the chief executive officer now owns 181,208 shares in the company, valued at $10,028,050.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Lublin sold 1,005 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the completion of the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at approximately $3,145,513.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,241 shares of company stock valued at $2,060,436. Company insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Up 2.6 %

Shares of NYSE:MCB opened at $56.03 on Friday. The stock has a market capitalization of $626.98 million, a price-to-earnings ratio of 9.02 and a beta of 1.13. Metropolitan Bank Holding Corp. has a 1-year low of $30.20 and a 1-year high of $57.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $50.13 and a 200 day moving average price of $45.08.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. The firm had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. During the same period in the prior year, the business posted $1.37 EPS. On average, research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCB shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Hovde Group started coverage on shares of Metropolitan Bank in a report on Thursday, September 19th. They set an “outperform” rating and a $65.50 target price for the company.

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.