Nick Rosenberg Sells 1,250 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

by · The Markets Daily

Metropolitan Bank Holding Corp. (NYSE:MCB – Get Free Report) EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $55.14, for a total transaction of $68,925.00. Following the completion of the transaction, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Metropolitan Bank Price Performance

Shares of NYSE:MCB opened at $54.20 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $606.66 million, a P/E ratio of 8.91 and a beta of 1.13. The business has a 50-day moving average of $49.79 and a two-hundred day moving average of $44.88. 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 – Get Free Report) last announced its earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. The company had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. During the same period in the previous year, the company earned $1.37 EPS. On average, equities research analysts predict that Metropolitan Bank Holding Corp. will post 6.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCB shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Hovde Group assumed coverage on shares of Metropolitan Bank in a research note on Thursday, September 19th. They issued an “outperform” rating and a $65.50 price objective on the stock.

Check Out Our Latest Stock Report on Metropolitan Bank

Institutional Trading of Metropolitan Bank

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of Metropolitan Bank during the second quarter worth approximately $4,991,000. Price T Rowe Associates Inc. MD acquired a new position in Metropolitan Bank during the 1st quarter valued at $1,876,000. Empowered Funds LLC bought a new stake in shares of Metropolitan Bank in the first quarter valued at about $1,303,000. Marshall Wace LLP raised its holdings in Metropolitan Bank by 193.1% in the 2nd quarter. Marshall Wace LLP now owns 50,350 shares of the company’s stock valued at $2,119,000 after acquiring an additional 33,171 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Metropolitan Bank by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after acquiring an additional 32,491 shares during the period. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

(Get Free Report)

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.

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