Metropolitan Bank (NYSE:MCB) Sets New 52-Week High – Still a Buy?

Metropolitan Bank Holding Corp. (NYSE:MCB)’s share price reached a new 52-week high on Friday . The stock traded as high as $67.01 and last traded at $67.01, with a volume of 43139 shares changing hands. The stock had previously closed at $63.15.

Analyst Ratings Changes

Separately, Hovde Group lifted their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Metropolitan Bank Trading Up 5.3 %

The stock has a market cap of $745.02 million, a price-to-earnings ratio of 12.50 and a beta of 1.12. The business has a fifty day simple moving average of $56.65 and a 200 day simple moving average of $49.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The business had revenue of $71.52 million for the quarter, compared to analyst estimates of $66.70 million. As a group, equities analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 EPS for the current year.

Insider Activity

In other news, SVP Norman Scott sold 1,473 shares of Metropolitan Bank stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the sale, the senior vice president now owns 11,732 shares of the company’s stock, valued at $679,517.44. The trade was a 11.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the transaction, the executive vice president now owns 31,443 shares of the company’s stock, valued at $1,733,767.02. The trade was a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,973 shares of company stock valued at $291,024 over the last 90 days. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

Institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Metropolitan Bank in the 2nd quarter valued at about $27,000. CWM LLC raised its stake in shares of Metropolitan Bank by 70.1% in the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings 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 valued at $71,000 after acquiring an additional 921 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Metropolitan Bank during the 2nd quarter worth $74,000. Finally, Point72 Asset Management L.P. increased its holdings in Metropolitan Bank by 104.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock valued at $189,000 after purchasing an additional 2,300 shares in the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

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.