Robert C. Patent Sells 2,000 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Robert C. Patent sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $65.61, for a total transaction of $131,220.00. Following the transaction, the director now owns 79,183 shares of the company’s stock, valued at approximately $5,195,196.63. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Metropolitan Bank Stock Performance

NYSE:MCB opened at $65.16 on Friday. Metropolitan Bank Holding Corp. has a 1 year low of $38.56 and a 1 year high of $69.56. The firm has a 50 day moving average of $63.01 and a 200-day moving average of $60.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $694.55 million, a P/E ratio of 11.02 and a beta of 1.08.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Monday, April 21st. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.16). Metropolitan Bank had a net margin of 13.49% and a return on equity of 10.53%. The firm had revenue of $70.59 million during the quarter, compared to the consensus estimate of $67.62 million. During the same quarter last year, the firm posted $1.46 EPS. As a group, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MCB. Picton Mahoney Asset Management raised its position in Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. GAMMA Investing LLC raised its position in Metropolitan Bank by 289.5% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 443 shares during the last quarter. Avalon Trust Co bought a new position in Metropolitan Bank in the 1st quarter worth approximately $84,000. KLP Kapitalforvaltning AS bought a new position in Metropolitan Bank in the 4th quarter worth approximately $128,000. Finally, Strs Ohio bought a new position in Metropolitan Bank in the 1st quarter worth approximately $218,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted their target price on shares of Metropolitan Bank from $75.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, June 16th.

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.