Nick Rosenberg Sells 625 Shares of Metropolitan Bank (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 625 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $80.41, for a total transaction of $50,256.25. Following the completion of the sale, the executive vice president owned 27,089 shares in the company, valued at approximately $2,178,226.49. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, October 17th, Nick Rosenberg sold 625 shares of Metropolitan Bank stock. The stock was sold at an average price of $72.47, for a total value of $45,293.75.
• On Wednesday, September 17th, Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock. The stock was sold at an average price of $79.47, for a total transaction of $99,337.50.

Metropolitan Bank Stock Performance

Shares of MCB opened at $79.93 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm’s fifty day simple moving average is $72.85 and its two-hundred day simple moving average is $72.77. Metropolitan Bank Holding Corp. has a 12 month low of $47.08 and a 12 month high of $82.38. The stock has a market capitalization of $823.25 million, a P/E ratio of 13.88 and a beta of 1.14.

Metropolitan Bank (NYSE:MCB) last announced its quarterly 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). The firm had revenue of $79.84 million during the quarter, compared to the consensus estimate of $78.28 million. Metropolitan Bank had a return on equity of 8.71% and a net margin of 12.46%. As a group, analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Metropolitan Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, October 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, October 30th. Metropolitan Bank’s dividend payout ratio (DPR) is currently 10.42%.

Institutional Trading of Metropolitan Bank

Several hedge funds and other institutional investors have recently bought and sold shares of MCB. State of Alaska Department of Revenue purchased a new stake in Metropolitan Bank in the third quarter worth about $31,000. Quarry LP purchased a new stake in shares of Metropolitan Bank in the 3rd quarter worth approximately $48,000. Tower Research Capital LLC TRC increased its position in Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after buying an additional 490 shares in the last quarter. Arizona State Retirement System purchased a new position in Metropolitan Bank during the third quarter valued at $201,000. Finally, Systematic Alpha Investments LLC purchased a new position in Metropolitan Bank during the third quarter valued at $202,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

MCB has been the topic of a number of recent analyst reports. Zacks Research downgraded Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods lowered their price target on Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Metropolitan Bank in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Metropolitan Bank has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

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.