Insider Selling: Metropolitan Bank (NYSE:MCB) EVP Sells $371,800.00 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $74.36, for a total transaction of $371,800.00. Following the completion of the transaction, the executive vice president directly owned 41,179 shares of the company’s stock, valued at $3,062,070.44. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Metropolitan Bank Stock Down 4.9%

Shares of Metropolitan Bank stock opened at $70.85 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $738.30 million, a PE ratio of 12.30 and a beta of 1.11. Metropolitan Bank Holding Corp. has a 52-week low of $47.08 and a 52-week high of $81.33. The company has a 50-day simple moving average of $76.56 and a two-hundred day simple moving average of $69.84.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Thursday, October 23rd. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($1.28). Metropolitan Bank had a return on equity of 8.72% and a net margin of 12.46%.The firm had revenue of $79.84 million during the quarter, compared to analysts’ expectations of $78.28 million. On average, analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Metropolitan Bank announced that its Board of Directors has approved a share repurchase program on Thursday, July 17th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Metropolitan Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 30th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Metropolitan Bank’s payout ratio is currently 9.72%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCB. Keefe, Bruyette & Woods lifted their price target on shares of Metropolitan Bank from $81.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Metropolitan Bank in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.67.

Institutional Trading of Metropolitan Bank

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Metropolitan Bank by 289.5% during the first quarter. GAMMA Investing LLC now owns 596 shares of the company’s stock valued at $33,000 after buying an additional 443 shares during the period. Jump Financial LLC boosted its position in shares of Metropolitan Bank by 45.4% in the first quarter. Jump Financial LLC now owns 13,405 shares of the company’s stock worth $751,000 after purchasing an additional 4,187 shares during the period. Vanguard Group Inc. boosted its position in shares of Metropolitan Bank by 3.7% in the first quarter. Vanguard Group Inc. now owns 669,219 shares of the company’s stock worth $37,470,000 after purchasing an additional 23,859 shares during the period. American Century Companies Inc. boosted its position in shares of Metropolitan Bank by 11.0% in the first quarter. American Century Companies Inc. now owns 272,605 shares of the company’s stock worth $15,263,000 after purchasing an additional 27,014 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Metropolitan Bank in the first quarter worth approximately $986,000. 79.83% of the stock is currently owned by 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.