Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Sells 1,005 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin sold 1,005 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Metropolitan Bank Stock Performance

Metropolitan Bank stock traded up $0.84 during trading hours on Thursday, hitting $54.10. The stock had a trading volume of 124,773 shares, compared to its average volume of 100,120. The company has a 50-day moving average of $43.74 and a two-hundred day moving average of $42.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $605.38 million, a PE ratio of 8.85 and a beta of 1.16. Metropolitan Bank Holding Corp. has a fifty-two week low of $30.20 and a fifty-two week high of $57.69.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.07). The firm had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.62%. During the same period last year, the company earned $1.37 EPS. On average, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Metropolitan Bank

Large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after buying an additional 323 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Metropolitan Bank by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock worth $769,000 after buying an additional 367 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Metropolitan Bank by 0.8% in the 4th quarter. Russell Investments Group Ltd. now owns 120,952 shares of the company’s stock worth $6,698,000 after buying an additional 914 shares in the last quarter. Cox Capital Mgt LLC raised its holdings in shares of Metropolitan Bank by 11.9% in the 1st quarter. Cox Capital Mgt LLC now owns 11,395 shares of the company’s stock worth $439,000 after buying an additional 1,214 shares in the last quarter. Finally, Harbor Advisors LLC raised its holdings in shares of Metropolitan Bank by 10.1% in the 4th quarter. Harbor Advisors LLC now owns 24,783 shares of the company’s stock worth $1,372,000 after buying an additional 2,283 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $67.50 price objective (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday.

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.