Metropolitan Bank (NYSE:MCB) Director Robert Patent Sells 10,000 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Robert Patent sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $96.41, for a total transaction of $964,100.00. Following the sale, the director owned 86,185 shares in the company, valued at $8,309,095.85. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Metropolitan Bank Price Performance

Metropolitan Bank stock traded down $1.90 during trading hours on Monday, hitting $94.73. The stock had a trading volume of 68,079 shares, compared to its average volume of 158,682. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 11.67 and a beta of 1.01. Metropolitan Bank Holding Corp. has a 1-year low of $64.25 and a 1-year high of $97.84. The stock’s fifty day moving average is $89.45 and its two-hundred day moving average is $85.52.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.73. The company had revenue of $88.49 million for the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Friday, May 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 1st. Metropolitan Bank’s dividend payout ratio is currently 12.32%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. UBS Group assumed coverage on Metropolitan Bank in a report on Thursday, April 16th. They issued a “neutral” rating and a $97.00 target price on the stock. Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $95.00.

Institutional Trading of Metropolitan Bank

A number of large investors have recently made changes to their positions in MCB. Emerald Advisers LLC acquired a new stake in shares of Metropolitan Bank during the first quarter valued at $25,000. Royal Bank of Canada boosted its stake in shares of Metropolitan Bank by 70.4% during the fourth quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 143 shares during the last quarter. Quarry LP acquired a new stake in shares of Metropolitan Bank during the third quarter valued at $48,000. Kestra Advisory Services LLC acquired a new stake in shares of Metropolitan Bank during the fourth quarter valued at $51,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Metropolitan Bank by 41.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after acquiring an additional 490 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.