Scott Lublin Sells 3,000 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the completion of the sale, the executive vice president now owns 52,253 shares in the company, valued at approximately $3,070,908.81. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Metropolitan Bank Trading Up 0.2 %

Shares of MCB opened at $59.45 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $665.72 million, a price-to-earnings ratio of 11.17 and a beta of 1.16. The company has a 50-day moving average of $61.53 and a 200 day moving average of $52.85. 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 announced its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. The firm had revenue of $71.52 million during the quarter, compared to analyst estimates of $66.70 million. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. On average, research analysts expect that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Analyst Ratings Changes

MCB has been the subject of a number of recent research reports. Hovde Group lifted their target price on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Piper Sandler boosted their target price on 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 price target on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Metropolitan Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in MCB. Basswood Capital Management L.L.C. lifted its stake in Metropolitan Bank by 176.8% in the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after acquiring an additional 388,200 shares during the period. 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 purchasing an additional 32,491 shares during the period. AQR Capital Management LLC boosted its stake in shares of Metropolitan Bank by 31.7% during the second quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock valued at $5,486,000 after purchasing an additional 31,397 shares in the last quarter. Millennium Management LLC purchased a new position in Metropolitan Bank during the second quarter valued at approximately $4,991,000. Finally, Assenagon Asset Management S.A. raised its stake in Metropolitan Bank by 112.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock worth $4,690,000 after buying an additional 47,193 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

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.