BNP Paribas Financial Markets Trims Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

BNP Paribas Financial Markets reduced its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,034 shares of the company’s stock after selling 8,260 shares during the period. BNP Paribas Financial Markets owned 0.42% of Metropolitan Bank worth $2,473,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CWM LLC lifted its holdings in shares of Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Metropolitan Bank by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock worth $769,000 after buying an additional 367 shares during the last quarter. Point72 DIFC Ltd bought a new position in Metropolitan Bank during the 2nd quarter valued at approximately $27,000. Salzhauer Michael raised its stake in Metropolitan Bank by 2.3% during the second quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock valued at $1,604,000 after buying an additional 842 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Metropolitan Bank by 12.0% in the second quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock worth $572,000 after acquiring an additional 1,456 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

Insider Buying and Selling at Metropolitan Bank

In related news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 30,193 shares in the company, valued at $1,967,677.81. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Norman Scott sold 1,473 shares of Metropolitan Bank 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 sale, the senior vice president now directly owns 11,732 shares of the company’s stock, valued at approximately $679,517.44. This trade represents a 11.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,973 shares of company stock worth $291,024. Company insiders own 6.50% of the company’s stock.

Metropolitan Bank Stock Performance

MCB stock opened at $65.45 on Friday. The stock has a market capitalization of $733.04 million, a PE ratio of 12.30 and a beta of 1.16. The stock’s 50 day simple moving average is $59.52 and its 200 day simple moving average is $51.13. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. 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 announced its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The firm had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. As a group, research analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

MCB has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday. Hovde Group increased their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research report on Monday, October 21st.

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.