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 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 completion of the sale, the chief executive officer now owns 100,628 shares of the company’s stock, valued at $5,512,401.84. This trade represents a 13.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Metropolitan Bank Trading Up 0.9 %

NYSE MCB opened at $55.63 on Thursday. 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’s 50 day moving average price is $60.04 and its two-hundred day moving average price is $58.71. The stock has a market capitalization of $624.47 million, a price-to-earnings ratio of 9.40 and a beta of 1.17.

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

Hedge Funds Weigh In On Metropolitan Bank

Large investors have recently modified their holdings of the business. Basswood Capital Management L.L.C. increased its position in shares of Metropolitan Bank by 176.8% in 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. Wellington Management Group LLP bought a new position in Metropolitan Bank in the fourth quarter valued at approximately $12,109,000. JPMorgan Chase & Co. increased its position in shares of Metropolitan Bank by 1,726.5% during the 4th quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company’s stock worth $8,718,000 after purchasing an additional 141,107 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Metropolitan Bank by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company’s stock worth $17,008,000 after purchasing an additional 41,449 shares in the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of Metropolitan Bank in the 4th quarter valued at approximately $2,174,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on MCB shares. Keefe, Bruyette & Woods increased their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price objective on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, 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.

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.