Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) SVP Sells $85,316.16 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 11,732 shares of the company’s stock, valued at approximately $679,517.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Metropolitan Bank Trading Down 2.5 %

Shares of MCB stock opened at $52.78 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The business’s fifty day moving average is $52.64 and its 200 day moving average is $46.51. The company has a market capitalization of $590.61 million, a PE ratio of 9.92 and a beta of 1.13. Metropolitan Bank Holding Corp. has a 52-week low of $31.35 and a 52-week high of $64.10.

Institutional Investors Weigh In On Metropolitan Bank

Large investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Metropolitan Bank by 70.1% during the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Metropolitan Bank by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock valued at $769,000 after acquiring an additional 367 shares during the last quarter. Point72 DIFC Ltd bought a new position in Metropolitan Bank during the second quarter valued at approximately $27,000. Salzhauer Michael raised its stake in shares of Metropolitan Bank by 2.3% during the second quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock worth $1,604,000 after acquiring an additional 842 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Metropolitan Bank by 12.0% in the 2nd quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock worth $572,000 after acquiring an additional 1,456 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCB. JPMorgan Chase & Co. boosted their target price on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Hovde Group upped their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd.

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.