Nick Rosenberg Sells 1,807 Shares of Metropolitan Bank (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 1,807 shares of Metropolitan Bank stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total value of $181,458.94. Following the transaction, the executive vice president owned 22,202 shares in the company, valued at approximately $2,229,524.84. This represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nick Rosenberg also recently made the following trade(s):

• On Tuesday, June 30th, Nick Rosenberg sold 90 shares of Metropolitan Bank stock. The shares were sold at an average price of $100.03, for a total transaction of $9,002.70.

Metropolitan Bank Trading Down 0.0%

Shares of MCB opened at $98.48 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a 12-month low of $64.66 and a 12-month high of $102.04. The firm has a 50-day moving average price of $92.16 and a 200 day moving average price of $87.54. The firm has a market capitalization of $1.22 billion, a P/E ratio of 12.13 and a beta of 1.00.

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

Metropolitan Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s dividend payout ratio is presently 12.32%.

Hedge Funds Weigh In On Metropolitan Bank

Several large investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Metropolitan Bank by 11.7% in the 1st quarter. Royal Bank of Canada now owns 7,429 shares of the company’s stock valued at $416,000 after purchasing an additional 778 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Metropolitan Bank by 3.9% during the first 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 in the last quarter. Empowered Funds LLC boosted its position in shares of Metropolitan Bank by 5.3% during the first quarter. Empowered Funds LLC now owns 42,268 shares of the company’s stock worth $2,367,000 after buying an additional 2,126 shares during the period. Quantbot Technologies LP boosted its position in shares of Metropolitan Bank by 39.2% during the second quarter. Quantbot Technologies LP now owns 6,074 shares of the company’s stock worth $425,000 after buying an additional 1,709 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Metropolitan Bank by 854.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 41,747 shares of the company’s stock valued at $2,922,000 after buying an additional 37,374 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCB shares. Wall Street Zen upgraded Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods increased their price target on Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, UBS Group began coverage on Metropolitan Bank in a report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Metropolitan Bank currently has an average rating of “Buy” and an average target price of $103.00.

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.