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 shares were sold at an average price of $58.77, for a total transaction of $176,310.00. Following the transaction, the executive vice president now directly owns 52,253 shares in the company, valued at approximately $3,070,908.81. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Metropolitan Bank Stock Up 0.3 %

Shares of Metropolitan Bank stock traded up $0.16 during trading on Monday, hitting $59.33. The company’s stock had a trading volume of 54,606 shares, compared to its average volume of 92,932. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $69.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The company has a fifty day simple moving average of $61.49 and a two-hundred day simple moving average of $52.72. The company has a market capitalization of $664.50 million, a PE ratio of 11.15 and a beta of 1.16.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MCB. Bank of New York Mellon Corp increased its holdings in shares of Metropolitan Bank by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 83,472 shares of the company’s stock valued at $3,513,000 after acquiring an additional 28,665 shares in the last quarter. Principal Financial Group Inc. grew its position in Metropolitan Bank by 12.0% during the 2nd quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock valued at $572,000 after purchasing an additional 1,456 shares during the last quarter. Kings Path Partners LLC bought a new stake in Metropolitan Bank during the 2nd quarter valued at about $683,000. Acadian Asset Management LLC raised its holdings in Metropolitan Bank by 31.4% in the second quarter. Acadian Asset Management LLC now owns 63,788 shares of the company’s stock worth $2,683,000 after buying an additional 15,240 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Metropolitan Bank by 21.1% in the second quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after buying an additional 32,491 shares in the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.