Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Sells $81,462.50 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the sale, the executive vice president now owns 30,193 shares in the company, valued at $1,967,677.81. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Nick Rosenberg also recently made the following trade(s):

• On Friday, October 4th, Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00.

Metropolitan Bank Price Performance

Metropolitan Bank stock opened at $64.51 on Friday. The business has a 50-day simple moving average of $54.96 and a 200 day simple moving average of $48.60. Metropolitan Bank Holding Corp. has a 52 week low of $32.46 and a 52 week high of $66.59. The stock has a market cap of $722.51 million, a price-to-earnings ratio of 12.13 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

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

Institutional Investors Weigh In On Metropolitan Bank

Several hedge funds have recently added to or reduced their stakes in MCB. Vanguard Group Inc. increased its position in shares of Metropolitan Bank by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after purchasing an additional 27,499 shares during the last quarter. Basswood Capital Management L.L.C. grew its position in Metropolitan Bank by 176.8% during the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock valued at $31,958,000 after acquiring an additional 388,200 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Metropolitan Bank by 1.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 266,521 shares of the company’s stock worth $10,261,000 after acquiring an additional 3,767 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Metropolitan Bank by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after acquiring an additional 32,491 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Metropolitan Bank by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock valued at $5,486,000 after purchasing an additional 31,397 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MCB shares. Hovde Group lifted their price target on Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd.

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.