Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Sells 3,000 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin sold 3,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the completion of the transaction, the executive vice president now owns 52,253 shares of the company’s stock, valued at $3,070,908.81. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Metropolitan Bank Stock Performance

Shares of MCB stock traded up $0.16 during mid-day trading on Monday, reaching $59.33. 54,606 shares of the company’s stock traded hands, compared to its average volume of 92,932. Metropolitan Bank Holding Corp. has a 12 month low of $32.46 and a 12 month high of $69.56. The firm has a 50 day moving average price of $61.49 and a two-hundred day moving average price of $52.72. The firm has a market capitalization of $664.50 million, a PE ratio of 11.15 and a beta of 1.16. 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 issued its quarterly 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. The business had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. On average, research analysts forecast that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Hedge Funds Weigh In On Metropolitan Bank

Large investors have recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. raised its position in shares of Metropolitan Bank by 176.8% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock valued at $31,958,000 after purchasing an additional 388,200 shares during the period. Millennium Management LLC bought a new stake in Metropolitan Bank during the second quarter valued at about $4,991,000. Assenagon Asset Management S.A. lifted its position in shares of Metropolitan Bank by 112.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock valued at $4,690,000 after acquiring an additional 47,193 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Metropolitan Bank in the third quarter worth about $1,893,000. Finally, Marshall Wace LLP boosted its stake in shares of Metropolitan Bank by 193.1% in the second quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock worth $2,119,000 after acquiring an additional 33,171 shares during the period. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Analyst Ratings Changes

MCB has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Hovde Group boosted their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

About Metropolitan Bank

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.