Insider Selling: Metropolitan Bank (NYSE:MCB) EVP Sells 1,807 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 1,807 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total transaction of $181,458.94. Following the sale, the executive vice president owned 22,202 shares of the company’s stock, valued at approximately $2,229,524.84. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nick Rosenberg also recently made the following trade(s):

• On Tuesday, June 30th, Nick Rosenberg sold 90 shares of Metropolitan Bank stock. The stock was sold at an average price of $100.03, for a total value of $9,002.70.

Metropolitan Bank Stock Down 2.1%

NYSE MCB traded down $2.09 on Thursday, reaching $98.48. The company had a trading volume of 181,607 shares, compared to its average volume of 135,358. The firm has a market capitalization of $1.22 billion, a PE ratio of 12.13 and a beta of 1.00. Metropolitan Bank Holding Corp. has a 1 year low of $64.66 and a 1 year high of $102.04. The firm has a 50-day moving average of $91.93 and a 200-day moving average of $87.47. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99.

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

Metropolitan Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 1st. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s dividend payout ratio (DPR) is currently 12.32%.

Hedge Funds Weigh In On Metropolitan Bank

A number of hedge funds and other institutional investors have recently modified their holdings of MCB. Emerald Advisers LLC purchased a new stake in Metropolitan Bank in the 1st quarter worth about $25,000. Royal Bank of Canada grew its holdings in shares of Metropolitan Bank by 70.4% during the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 143 shares in the last quarter. Quarry LP acquired a new stake in Metropolitan Bank during the third quarter valued at $48,000. Kestra Advisory Services LLC purchased a new position in Metropolitan Bank in the fourth quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC increased its position in Metropolitan Bank by 41.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock worth $117,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MCB shares. Keefe, Bruyette & Woods increased their price objective on Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Wall Street Zen upgraded Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. UBS Group started coverage on Metropolitan Bank in a research report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price target for the company. Finally, Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $103.00.

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.