Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Sells $826,520.64 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the transaction, the chief executive officer now owns 100,628 shares in the company, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Metropolitan Bank Trading Up 0.1 %

Shares of MCB opened at $55.18 on Friday. Metropolitan Bank Holding Corp. has a 52-week low of $32.46 and a 52-week high of $69.56. The business’s fifty day moving average is $59.99 and its 200-day moving average is $58.71. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $619.38 million, a price-to-earnings ratio of 9.32 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Equities analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Metropolitan Bank

Hedge funds and other institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management increased its stake in shares of Metropolitan Bank by 46.9% in the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after purchasing an additional 161 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Metropolitan Bank during the 4th quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Metropolitan Bank by 212.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock valued at $71,000 after acquiring an additional 921 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Metropolitan Bank during the 4th quarter valued at $91,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Metropolitan Bank during the 4th quarter valued at $128,000. Institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Hovde Group raised their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

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.