Hovde Group Increases Metropolitan Bank (NYSE:MCB) Price Target to $68.00

Metropolitan Bank (NYSE:MCB) had its price objective raised by Hovde Group from $65.50 to $68.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 price target (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd.

Metropolitan Bank Stock Down 1.2 %

Shares of NYSE MCB opened at $54.97 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $615.28 million, a PE ratio of 9.04 and a beta of 1.13. The company’s fifty day simple moving average is $52.38 and its 200 day simple moving average is $46.34. Metropolitan Bank has a 12-month low of $30.72 and a 12-month high of $64.10.

Insider Transactions at Metropolitan Bank

In other news, EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now owns 31,443 shares in the company, valued at $1,733,767.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the completion of the sale, the senior vice president now directly owns 11,732 shares of the company’s stock, valued at $679,517.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the sale, the executive vice president now owns 31,443 shares in the company, valued at $1,733,767.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Metropolitan Bank

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Metropolitan Bank in the first quarter worth $103,000. Principal Financial Group Inc. bought a new position in shares of Metropolitan Bank during the 1st quarter worth $467,000. BNP Paribas Financial Markets increased its holdings in Metropolitan Bank by 17.4% in the 1st quarter. BNP Paribas Financial Markets now owns 45,211 shares of the company’s stock worth $1,741,000 after acquiring an additional 6,698 shares during the last quarter. Harbor Advisors LLC lifted its holdings in Metropolitan Bank by 12.1% during the first quarter. Harbor Advisors LLC now owns 27,783 shares of the company’s stock valued at $1,070,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Metropolitan Bank during the first quarter worth about $1,303,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

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.