Metropolitan Bank (NYSE:MCB) CFO Daniel Dougherty Purchases 1,000 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) CFO Daniel Dougherty bought 1,000 shares of Metropolitan Bank stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average cost of $71.66 per share, for a total transaction of $71,660.00. Following the acquisition, the chief financial officer owned 27,341 shares of the company’s stock, valued at $1,959,256.06. This represents a 3.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Metropolitan Bank Price Performance

Shares of MCB opened at $67.91 on Wednesday. Metropolitan Bank Holding Corp. has a twelve month low of $47.08 and a twelve month high of $81.33. The firm’s fifty day simple moving average is $76.39 and its 200-day simple moving average is $70.36. The firm has a market capitalization of $707.57 million, a price-to-earnings ratio of 11.79 and a beta of 1.11. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($1.28). Metropolitan Bank had a net margin of 12.46% and a return on equity of 8.72%. The business had revenue of $79.84 million during the quarter, compared to analyst estimates of $78.28 million. Equities analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Metropolitan Bank announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Metropolitan Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 30th. Metropolitan Bank’s dividend payout ratio (DPR) is 10.42%.

Analyst Upgrades and Downgrades

MCB has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Metropolitan Bank in a report on Wednesday, October 8th. Zacks Research cut shares of Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Metropolitan Bank in the third quarter valued at $31,000. GAMMA Investing LLC increased its position in Metropolitan Bank by 289.5% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the company’s stock valued at $33,000 after acquiring an additional 443 shares during the period. Avalon Trust Co acquired a new position in Metropolitan Bank in the 1st quarter valued at about $84,000. Tower Research Capital LLC TRC increased its holdings in shares of Metropolitan Bank by 41.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after purchasing an additional 490 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of Metropolitan Bank in the second quarter valued at approximately $208,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

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.