Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Sells 1,250 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the sale, the executive vice president now owns 31,443 shares in the company, valued at $1,733,767.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Metropolitan Bank Price Performance

Shares of MCB traded down $0.27 during mid-day trading on Tuesday, hitting $53.53. The company’s stock had a trading volume of 38,670 shares, compared to its average volume of 93,956. The firm has a 50-day simple moving average of $49.74 and a 200 day simple moving average of $44.70. The firm has a market capitalization of $599.16 million, a P/E ratio of 8.85 and a beta of 1.13. Metropolitan Bank Holding Corp. has a 1-year low of $30.20 and a 1-year high of $57.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.47%. The firm had revenue of $121.90 million for the quarter, compared to analysts’ expectations of $68.02 million. During the same period last year, the firm posted $1.37 EPS. Analysts predict that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCB. Vanguard Group Inc. grew its holdings in shares of Metropolitan Bank by 4.6% during the first 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. Pacific Ridge Capital Partners LLC grew its holdings 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 valued at $10,261,000 after purchasing an additional 3,767 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Metropolitan Bank by 21.1% during the second quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock valued at $7,847,000 after purchasing an additional 32,491 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Metropolitan Bank by 31.7% during the second 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 during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Metropolitan Bank during the second quarter valued at approximately $4,991,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

MCB has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Hovde Group assumed coverage on shares of Metropolitan Bank in a report on Thursday, September 19th. They set an “outperform” rating and a $65.50 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $67.50 target price (up from $55.00) on shares of Metropolitan Bank in a report 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.