Metropolitan Bank Holding Corp. (NYSE:MCB) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,502 shares of the company’s stock after selling 762 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.23% of Metropolitan Bank worth $1,489,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Metropolitan Bank by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company’s stock worth $37,689,000 after purchasing an additional 10,545 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Metropolitan Bank by 14.2% in the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company’s stock valued at $14,343,000 after buying an additional 30,547 shares during the period. Wellington Management Group LLP acquired a new position in Metropolitan Bank during the 4th quarter worth about $12,109,000. JPMorgan Chase & Co. boosted its holdings in Metropolitan Bank by 1,726.5% during the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company’s stock valued at $8,718,000 after acquiring an additional 141,107 shares during the period. Finally, Franklin Resources Inc. grew its position in Metropolitan Bank by 20.6% in the 4th quarter. Franklin Resources Inc. now owns 100,033 shares of the company’s stock valued at $5,842,000 after acquiring an additional 17,111 shares in the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Hovde Group raised their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, January 27th. Piper Sandler raised their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 13th.

Insiders Place Their Bets

In other Metropolitan Bank news, CEO Mark R. Defazio sold 15,088 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction of $826,520.64. Following the sale, the chief executive officer now owns 100,628 shares of the company’s stock, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dale C. Fredston sold 1,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the transaction, the director now owns 17,668 shares of the company’s stock, valued at approximately $1,100,186.36. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,088 shares of company stock valued at $1,161,791 in the last ninety days. Insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Down 0.7 %

MCB stock opened at $48.83 on Wednesday. The company’s 50 day moving average price is $57.91 and its 200 day moving average price is $59.03. The firm has a market capitalization of $548.16 million, a price-to-earnings ratio of 8.25 and a beta of 0.95. Metropolitan Bank Holding Corp. has a fifty-two week low of $32.46 and a fifty-two week high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. On average, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

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.