Mark R. Defazio Sells 15,088 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Mark R. Defazio sold 15,088 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total transaction of $826,520.64. Following the transaction, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at $5,512,401.84. This 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 accessible through this link.

Metropolitan Bank Price Performance

Shares of MCB opened at $55.29 on Friday. The company has a market cap of $620.60 million, a price-to-earnings ratio of 9.34 and a beta of 1.17. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $60.01 and its 200 day simple moving average is $58.69. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Hovde Group raised their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Piper Sandler upped their target price on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management raised its stake in Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares during the period. USA Financial Formulas bought a new position in shares of Metropolitan Bank in the fourth quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Metropolitan Bank by 212.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after buying an additional 921 shares during the last quarter. R Squared Ltd bought a new stake in shares of Metropolitan Bank during the 4th quarter worth about $91,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Metropolitan Bank in the 4th quarter valued at about $128,000. 79.83% of the stock is currently owned by institutional investors.

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.