Metropolitan Bank (NYSE:MCB) Reaches New 52-Week High at $66.65

Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) reached a new 52-week high on Thursday . The company traded as high as $66.65 and last traded at $65.73, with a volume of 281 shares. The stock had previously closed at $60.15.

Separately, Zacks Investment Research downgraded Metropolitan Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, June 29th.

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $62.33. The company has a market capitalization of $548.19 million, a PE ratio of 11.18 and a beta of 1.33.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.14. Metropolitan Bank had a return on equity of 13.63% and a net margin of 28.01%. On average, analysts forecast that Metropolitan Bank Holding Corp. will post 5.83 earnings per share for the current year.

In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,005 shares of the stock in a transaction on Wednesday, June 16th. The stock was sold at an average price of $64.15, for a total transaction of $64,470.75. Also, CFO Greg Sigrist acquired 1,600 shares of Metropolitan Bank stock in a transaction on Friday, June 18th. The shares were purchased at an average cost of $61.35 per share, with a total value of $98,160.00. The disclosure for this purchase can be found here. 15.90% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. lifted its position in shares of Metropolitan Bank by 100.8% during the first quarter. D. E. Shaw & Co. Inc. now owns 20,965 shares of the company’s stock worth $1,056,000 after acquiring an additional 10,525 shares in the last quarter. EJF Capital LLC lifted its position in shares of Metropolitan Bank by 17.2% during the first quarter. EJF Capital LLC now owns 425,229 shares of the company’s stock worth $21,415,000 after acquiring an additional 62,422 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of Metropolitan Bank by 23.4% during the first quarter. State of Wisconsin Investment Board now owns 41,700 shares of the company’s stock worth $2,100,000 after acquiring an additional 7,900 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Metropolitan Bank during the first quarter worth $327,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Metropolitan Bank during the first quarter worth $622,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.

Metropolitan Bank Company Profile (NYSE:MCB)

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.

Further Reading: Preferred Stock

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