Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Sells $826,520.64 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Mark R. Defazio sold 15,088 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the transaction, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at $5,512,401.84. This represents a 13.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $55.18 on Friday. The stock has a 50 day moving average price of $59.99 and a 200 day moving average price of $58.71. 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 stock has a market capitalization of $619.38 million, a PE ratio of 9.32 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Analysts predict that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Institutional Trading of Metropolitan Bank

Hedge funds have recently made changes to their positions in the business. Picton Mahoney Asset Management lifted its position in shares of Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Metropolitan Bank by 212.7% in 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 acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at approximately $91,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at approximately $128,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCB has been the subject of several recent research reports. Hovde Group upped their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Piper Sandler upped their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.