Robert Patent Sells 5,000 Shares of Metropolitan Bank (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Robert Patent sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $90.21, for a total transaction of $451,050.00. Following the completion of the sale, the director owned 96,185 shares of the company’s stock, valued at approximately $8,676,848.85. The trade was a 4.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Metropolitan Bank Stock Up 0.4%

Shares of Metropolitan Bank stock traded up $0.32 during trading on Friday, hitting $90.69. 63,706 shares of the stock traded hands, compared to its average volume of 162,547. The stock has a market cap of $1.12 billion, a P/E ratio of 11.17 and a beta of 1.01. The company has a fifty day moving average price of $88.05 and a two-hundred day moving average price of $84.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99. Metropolitan Bank Holding Corp. has a twelve month low of $63.81 and a twelve month high of $97.84.

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

Metropolitan Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 1st. Metropolitan Bank’s payout ratio is presently 12.32%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings raised shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, UBS Group started coverage on shares of Metropolitan Bank in a research note on Thursday, April 16th. They set a “neutral” rating and a $97.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $95.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in Metropolitan Bank by 70.4% during the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after purchasing an additional 143 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Metropolitan Bank by 0.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after buying an additional 182 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Metropolitan Bank by 3.9% during the 1st 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 acquired a new position in Metropolitan Bank in the first quarter valued at $25,000. Finally, Lazard Asset Management LLC boosted its position in shares of Metropolitan Bank by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock valued at $502,000 after purchasing an additional 355 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Metropolitan Bank Company Profile

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.