Massachusetts Financial Services Co. MA Decreases Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Massachusetts Financial Services Co. MA decreased its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 2.4% in the third quarter, Holdings Channel.com reports. The firm owned 26,264 shares of the company’s stock after selling 636 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Metropolitan Bank were worth $1,381,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MCB. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Metropolitan Bank in the third quarter worth $431,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Metropolitan Bank in the third quarter valued at $1,893,000. Quest Partners LLC lifted its holdings in shares of Metropolitan Bank by 485.7% in the 3rd quarter. Quest Partners LLC now owns 8,458 shares of the company’s stock worth $445,000 after acquiring an additional 7,014 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Metropolitan Bank by 14.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 22,905 shares of the company’s stock worth $1,204,000 after purchasing an additional 2,811 shares during the period. Finally, Empowered Funds LLC grew its holdings in Metropolitan Bank by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 38,252 shares of the company’s stock valued at $2,011,000 after purchasing an additional 1,876 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This trade represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Norman Scott sold 1,473 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the completion of the transaction, the senior vice president now directly owns 11,732 shares of the company’s stock, valued at $679,517.44. This trade represents a 11.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,973 shares of company stock worth $291,024 in the last ninety days. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Hovde Group raised their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Metropolitan Bank Trading Up 1.6 %

NYSE MCB opened at $67.29 on Thursday. The stock has a market cap of $753.51 million, a PE ratio of 12.65 and a beta of 1.12. Metropolitan Bank Holding Corp. has a 12 month low of $32.46 and a 12 month high of $69.56. The company’s 50-day moving average price is $57.60 and its 200-day moving average price is $50.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Thursday, October 17th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. The business had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Equities research analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current 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.