Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Sells 15,088 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the transaction, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at $5,512,401.84. This trade represents a 13.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Metropolitan Bank Trading Up 0.9 %

NYSE:MCB traded up $0.49 on Wednesday, reaching $55.63. 110,259 shares of the stock traded hands, compared to its average volume of 86,527. The firm has a market capitalization of $624.47 million, a price-to-earnings ratio of 9.40 and a beta of 1.17. The company’s 50 day moving average is $60.07 and its 200-day moving average is $58.73. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. 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 released its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share 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%. Equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Metropolitan Bank

Large investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Metropolitan Bank by 44.8% in the 3rd quarter. Franklin Resources Inc. now owns 82,922 shares of the company’s stock worth $4,751,000 after purchasing an additional 25,654 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Metropolitan Bank in the 3rd quarter worth $431,000. Algert Global LLC lifted its holdings in shares of Metropolitan Bank by 100.6% in the 3rd quarter. Algert Global LLC now owns 44,030 shares of the company’s stock worth $2,315,000 after purchasing an additional 22,077 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Metropolitan Bank in the 3rd quarter worth $1,893,000. Finally, Barclays PLC lifted its stake in Metropolitan Bank by 54.1% during the 3rd quarter. Barclays PLC now owns 23,461 shares of the company’s stock valued at $1,233,000 after acquiring an additional 8,233 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Metropolitan Bank

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.