Metropolitan Bank (NYSE:MCB) EVP Nick Rosenberg Sells 1,807 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 1,807 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total transaction of $181,458.94. Following the sale, the executive vice president directly owned 22,202 shares in the company, valued at approximately $2,229,524.84. The trade was a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nick Rosenberg also recently made the following trade(s):

• On Tuesday, June 30th, Nick Rosenberg sold 90 shares of Metropolitan Bank stock. The shares were sold at an average price of $100.03, for a total value of $9,002.70.

Metropolitan Bank Trading Down 2.1%

NYSE MCB opened at $98.48 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 12.13 and a beta of 1.00. Metropolitan Bank Holding Corp. has a twelve month low of $64.66 and a twelve month high of $102.04. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average is $91.93 and its 200 day moving average is $87.47.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.73. The business had revenue of $88.49 million during the quarter, compared to analysts’ expectations of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were paid a $0.25 dividend. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. Metropolitan Bank’s payout ratio is currently 12.32%.

Institutional Investors Weigh In On Metropolitan Bank

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Metropolitan Bank by 70.4% in the fourth quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after purchasing an additional 143 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Metropolitan Bank by 0.3% during the third quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after purchasing an additional 182 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Metropolitan Bank by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after purchasing an additional 237 shares during the last quarter. Emerald Advisers LLC purchased a new position in Metropolitan Bank during the first quarter worth about $25,000. Finally, Lazard Asset Management LLC grew its position in Metropolitan Bank by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock worth $502,000 after purchasing an additional 355 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MCB shares. Keefe, Bruyette & Woods lifted their target price on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. UBS Group began coverage on shares of Metropolitan Bank in a research note on Thursday, April 16th. They set a “neutral” rating and a $97.00 price target for the company. Finally, Weiss Ratings upgraded shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Metropolitan Bank has an average rating of “Buy” and an average price target of $103.00.

About Metropolitan Bank

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.