Metropolitan Bank (NYSE:MCB) Trading Down 3.6% – Time to Sell?

Metropolitan Bank Holding Corp. (NYSE:MCB)’s share price was down 3.6% during mid-day trading on Friday . The company traded as low as $60.27 and last traded at $60.27. Approximately 49,937 shares were traded during trading, a decline of 47% from the average daily volume of 94,304 shares. The stock had previously closed at $62.53.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MCB shares. JPMorgan Chase & Co. upped their target price on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $67.50 price target (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, Hovde Group began coverage on shares of Metropolitan Bank in a report on Thursday, September 19th. They set an “outperform” rating and a $65.50 price objective on the stock.

Metropolitan Bank Stock Performance

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 firm has a market capitalization of $658.48 million, a price-to-earnings ratio of 10.28 and a beta of 1.13. The firm’s 50-day moving average price is $51.37 and its two-hundred day moving average price is $45.69.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). The company had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. During the same period in the previous year, the company posted $1.37 earnings per share. Sell-side analysts predict that Metropolitan Bank Holding Corp. will post 6.1 earnings per share for the current year.

Insider Activity at Metropolitan Bank

In other news, EVP Scott Lublin sold 1,005 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the sale, the executive vice president now owns 57,077 shares in the company, valued at approximately $3,145,513.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Metropolitan Bank news, EVP Scott Lublin sold 1,005 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the transaction, the executive vice president now owns 57,077 shares of the company’s stock, valued at approximately $3,145,513.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now directly owns 31,443 shares in the company, valued at $1,733,767.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,241 shares of company stock valued at $2,060,436 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Metropolitan Bank by 4.6% during the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock worth $24,216,000 after buying an additional 27,499 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Metropolitan Bank by 1.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 266,521 shares of the company’s stock worth $10,261,000 after acquiring an additional 3,767 shares during the last quarter. American Century Companies Inc. boosted its stake in Metropolitan Bank by 21.1% during the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock worth $7,847,000 after acquiring an additional 32,491 shares during the last quarter. AQR Capital Management LLC grew its holdings in Metropolitan Bank by 31.7% during the second quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock valued at $5,486,000 after purchasing an additional 31,397 shares during the period. Finally, Millennium Management LLC bought a new stake in Metropolitan Bank in the second quarter valued at approximately $4,991,000. 79.83% of the stock is owned by institutional investors.

About Metropolitan Bank

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.