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

Metropolitan Bank Holding Corp. (NYSE:MCB) CFO Daniel Dougherty acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average cost of $89.98 per share, with a total value of $89,980.00. Following the completion of the acquisition, the chief financial officer directly owned 33,197 shares in the company, valued at approximately $2,987,066.06. This represents a 3.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Metropolitan Bank Trading Up 0.9%

NYSE:MCB opened at $92.03 on Wednesday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 11.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99. Metropolitan Bank Holding Corp. has a 1 year low of $64.66 and a 1 year high of $102.04. The business has a fifty day moving average of $94.63 and a 200-day moving average of $89.68.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). The company had revenue of $93.01 million for the quarter, compared to the consensus estimate of $93.39 million. Metropolitan Bank had a net margin of 14.31% and a return on equity of 10.72%.

Metropolitan Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.25. Metropolitan Bank’s dividend payout ratio is 12.66%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group cut their target price on Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday. Weiss Ratings upgraded Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $105.00.

Institutional Trading of Metropolitan Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCB. Lido Advisors LLC acquired a new position in Metropolitan Bank in the fourth quarter worth approximately $2,632,000. Tudor Investment Corp ET AL acquired a new stake in shares of Metropolitan Bank during the 3rd quarter valued at $2,185,000. UBS Group AG boosted its stake in shares of Metropolitan Bank by 363.5% during the 4th quarter. UBS Group AG now owns 64,832 shares of the company’s stock worth $4,951,000 after acquiring an additional 50,844 shares in the last quarter. R Squared Ltd bought a new stake in shares of Metropolitan Bank during the 1st quarter worth $261,000. Finally, OP Asset Management Ltd acquired a new position in shares of Metropolitan Bank in the 1st quarter worth $338,000. 79.83% of the stock is owned by institutional investors and hedge funds.

About Metropolitan Bank

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.