Metropolitan Bank (NYSE:MCB) Director Harvey Gutman Sells 3,000 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Harvey Gutman sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $89.58, for a total value of $268,740.00. Following the sale, the director owned 18,243 shares in the company, valued at approximately $1,634,207.94. This represents a 14.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Metropolitan Bank Trading Down 1.4%

Shares of Metropolitan Bank stock opened at $88.30 on Tuesday. Metropolitan Bank Holding Corp. has a 12-month low of $63.06 and a 12-month high of $97.84. The stock has a market cap of $1.09 billion, a P/E ratio of 10.87 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $87.58 and its 200-day moving average is $84.11.

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

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were paid a $0.25 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Metropolitan Bank’s dividend payout ratio (DPR) is currently 12.32%.

Wall Street Analyst Weigh In

MCB has been the topic of a number of research analyst reports. UBS Group initiated coverage on Metropolitan Bank in a research note on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price target on the stock. Wall Street Zen upgraded Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Keefe, Bruyette & Woods increased their price target on Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings upgraded Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $95.00.

Institutional Trading of Metropolitan Bank

Several institutional investors and hedge funds have recently modified their holdings of MCB. Emerald Advisers LLC bought a new position in Metropolitan Bank in the first quarter valued at about $25,000. Royal Bank of Canada raised its position in 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 purchasing an additional 143 shares during the last quarter. Quarry LP bought a new position in Metropolitan Bank in the third quarter valued at about $48,000. Kestra Advisory Services LLC bought a new position in Metropolitan Bank in the fourth quarter valued at about $51,000. Finally, Tower Research Capital LLC TRC raised its position in Metropolitan Bank by 41.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after purchasing an additional 490 shares during 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.