Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Mark R. Defazio Sells 15,088 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Mark R. Defazio sold 15,088 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 100,628 shares in the company, valued at approximately $5,512,401.84. This represents a 13.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Metropolitan Bank Stock Performance

Shares of Metropolitan Bank stock traded up $0.49 during trading on Wednesday, reaching $55.63. The company’s stock had a trading volume of 110,259 shares, compared to its average volume of 86,527. The business’s 50-day moving average price is $60.07 and its 200-day moving average price is $58.73. The firm has a market cap of $624.47 million, a PE ratio of 9.40 and a beta of 1.17. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) 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%. Equities analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Institutional Investors Weigh In On Metropolitan Bank

A number of institutional investors have recently modified their holdings of MCB. Picton Mahoney Asset Management lifted its position in Metropolitan Bank by 46.9% during the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the period. USA Financial Formulas bought a new stake in Metropolitan Bank during the fourth quarter worth about $66,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after purchasing an additional 921 shares during the period. R Squared Ltd bought a new stake in Metropolitan Bank during the fourth quarter worth about $91,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Metropolitan Bank during the fourth quarter worth about $128,000. Institutional investors own 79.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler upped their price objective on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Hovde Group upped their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, January 27th.

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.