Norman Scott Sells 1,473 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) SVP Norman Scott sold 1,473 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the sale, the senior vice president now directly owns 11,732 shares in the company, valued at approximately $679,517.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Metropolitan Bank Stock Performance

NYSE:MCB opened at $54.12 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $605.77 million, a PE ratio of 8.90 and a beta of 1.13. Metropolitan Bank Holding Corp. has a twelve month low of $30.72 and a twelve month high of $64.10. The stock’s 50-day simple moving average is $52.54 and its 200 day simple moving average is $46.40.

Hedge Funds Weigh In On Metropolitan Bank

Large investors have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in Metropolitan Bank in the second quarter valued at about $27,000. CWM LLC raised its position in Metropolitan Bank by 70.1% in the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Metropolitan Bank in the second quarter valued at about $74,000. Allspring Global Investments Holdings LLC bought a new position in Metropolitan Bank in the first quarter valued at about $103,000. Finally, Point72 Asset Management L.P. raised its position in shares of Metropolitan Bank by 104.5% during the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock worth $189,000 after acquiring an additional 2,300 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCB has been the topic of several analyst reports. Hovde Group increased their target price on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd.

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.