Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Sells $176,310.00 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 52,253 shares in the company, valued at $3,070,908.81. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Metropolitan Bank Stock Performance

NYSE MCB opened at $59.45 on Thursday. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. The firm’s 50 day simple moving average is $61.54 and its 200 day simple moving average is $52.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $665.72 million, a price-to-earnings ratio of 11.17 and a beta of 1.16.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results 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 company had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. As a group, research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Metropolitan Bank by 44.8% during the third quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock worth $4,751,000 after buying an additional 25,654 shares during the last quarter. Barclays PLC raised its position in shares of Metropolitan Bank by 54.1% in the 3rd quarter. Barclays PLC now owns 23,461 shares of the company’s stock worth $1,233,000 after acquiring an additional 8,233 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Metropolitan Bank in the 3rd quarter valued at about $357,000. Point72 Asset Management L.P. boosted its position in shares of Metropolitan Bank by 62.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 7,300 shares of the company’s stock valued at $384,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Harbor Advisors LLC grew its position in shares of Metropolitan Bank by 30.7% during the 3rd quarter. Harbor Advisors LLC now owns 36,311 shares of the company’s stock worth $1,909,000 after buying an additional 8,528 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

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.