Metropolitan Bank Holding Corp. (NYSE:MCB) Director Sells $62,270.00 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Dale C. Fredston sold 1,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the completion of the transaction, the director now directly owns 17,668 shares of the company’s stock, valued at approximately $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Metropolitan Bank Stock Down 0.2 %

Shares of MCB stock traded down $0.15 during trading hours on Tuesday, hitting $61.74. 48,828 shares of the company’s stock traded hands, compared to its average volume of 80,553. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $61.39 and its two-hundred day simple moving average is $57.24. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56. The stock has a market cap of $691.49 million, a price-to-earnings ratio of 10.43 and a beta of 1.18.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data 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 return on equity of 10.89% and a net margin of 13.55%. On average, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Metropolitan Bank

A number of hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its stake in Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. USA Financial Formulas bought a new position in shares of Metropolitan Bank during the fourth quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock valued at $71,000 after buying an additional 921 shares during the last quarter. R Squared Ltd bought a new stake in Metropolitan Bank in the 4th quarter worth about $91,000. Finally, CWM LLC raised its position in Metropolitan Bank by 127.0% in the 3rd quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after buying an additional 996 shares during the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

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.