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 business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the transaction, the director now owns 17,668 shares of the company’s stock, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Metropolitan Bank Stock Down 0.9 %

Shares of NYSE:MCB opened at $61.50 on Friday. The company has a fifty day moving average of $61.14 and a 200-day moving average of $57.41. The company has a market capitalization of $688.62 million, a PE ratio of 10.39 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management increased its holdings in shares of Metropolitan Bank by 46.9% during the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after buying an additional 161 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Metropolitan Bank in the fourth quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. grew its stake 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 worth $71,000 after purchasing an additional 921 shares during the last quarter. R Squared Ltd bought a new stake in shares of Metropolitan Bank in the fourth quarter worth $91,000. Finally, CWM LLC grew its stake in shares of Metropolitan Bank by 127.0% in the third quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after purchasing an additional 996 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.