Harbor Advisors LLC Raises Stock Holdings in Metropolitan Bank Holding Corp. (NYSE:MCB)

Harbor Advisors LLC increased its holdings in shares of Metropolitan Bank Holding Corp. (NYSE:MCB) by 30.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,311 shares of the company’s stock after acquiring an additional 8,528 shares during the period. Harbor Advisors LLC owned about 0.32% of Metropolitan Bank worth $1,909,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in Metropolitan Bank during the 2nd quarter worth $27,000. CWM LLC increased its position 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 buying an additional 323 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock valued at $71,000 after purchasing an additional 921 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Metropolitan Bank in the 2nd quarter valued at $74,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Metropolitan Bank during the third quarter worth $207,000. Institutional investors own 79.83% of the company’s stock.

Insider Activity

In related news, Director Robert C. Patent sold 1,000 shares of the company’s 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 sale, the director now directly owns 79,133 shares in the company, valued at approximately $4,377,637.56. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold a total of 4,973 shares of company stock worth $291,024 over the last ninety days. Company insiders own 6.50% of the company’s stock.

Metropolitan Bank Trading Up 1.6 %

Shares of MCB opened at $65.98 on Tuesday. The company’s fifty day simple moving average is $58.38 and its 200-day simple moving average is $50.63. Metropolitan Bank Holding Corp. has a twelve month low of $32.46 and a twelve month high of $69.56. The company has a market cap of $738.98 million, a P/E ratio of 12.40 and a beta of 1.16. 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 data on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. The firm had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. As a group, analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Hovde Group boosted their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the stock 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.