Metropolitan Bank (NYSE:MCB) Director Sells $922,900.00 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Robert Patent sold 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $92.29, for a total transaction of $922,900.00. Following the completion of the transaction, the director owned 76,185 shares of the company’s stock, valued at $7,031,113.65. This represents a 11.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Metropolitan Bank Price Performance

MCB stock traded up $1.99 during trading on Wednesday, reaching $94.91. 83,501 shares of the company were exchanged, compared to its average volume of 158,954. The company has a market cap of $1.18 billion, a P/E ratio of 12.01 and a beta of 0.99. Metropolitan Bank Holding Corp. has a 52-week low of $64.66 and a 52-week high of $102.04. The stock’s 50 day moving average price is $95.16 and its 200 day moving average price is $90.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 0.97.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Tuesday, July 21st. The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). Metropolitan Bank had a net margin of 14.31% and a return on equity of 10.22%. The company had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $93.39 million.

Metropolitan Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Friday, July 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, July 31st. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.25. Metropolitan Bank’s dividend payout ratio (DPR) is 17.72%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MCB shares. Keefe, Bruyette & Woods reduced their price objective on Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Metropolitan Bank in a research report on Friday. UBS Group cut their price target on Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of Metropolitan Bank from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $105.00.

Institutional Investors Weigh In On Metropolitan Bank

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake 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 buying an additional 143 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Metropolitan Bank by 0.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock worth $5,226,000 after acquiring an additional 182 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Metropolitan Bank by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock valued at $350,000 after buying an additional 237 shares during the last quarter. Emerald Advisers LLC bought a new stake in shares of Metropolitan Bank in the 1st quarter valued at approximately $25,000. Finally, Lazard Asset Management LLC lifted its stake in Metropolitan Bank by 6.3% during the first quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock worth $502,000 after purchasing an additional 355 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

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.