Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) Director Sells 2,000 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) Director Robert C. Patent sold 2,000 shares of Metropolitan Bank stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $65.61, for a total value of $131,220.00. Following the completion of the sale, the director now directly owns 79,183 shares in the company, valued at $5,195,196.63. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Metropolitan Bank Trading Up 0.7%

MCB traded up $0.43 during trading on Friday, hitting $65.16. The company's stock had a trading volume of 114,415 shares, compared to its average volume of 92,689. The firm's 50 day moving average price is $62.70 and its 200-day moving average price is $60.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $694.55 million, a PE ratio of 11.02 and a beta of 1.08. Metropolitan Bank Holding Corp. has a twelve month low of $38.56 and a twelve month high of $69.56.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. The business had revenue of $70.59 million for the quarter, compared to analysts' expectations of $67.62 million. During the same period last year, the company posted $1.46 earnings per share. On average, analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Institutional Investors Weigh In On Metropolitan Bank

Several institutional investors and hedge funds have recently bought and sold shares of MCB. Royce & Associates LP increased its stake in shares of Metropolitan Bank by 749.4% in the first quarter. Royce & Associates LP now owns 316,191 shares of the company's stock valued at $17,704,000 after purchasing an additional 278,966 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Metropolitan Bank in the first quarter valued at approximately $12,602,000. Wellington Management Group LLP acquired a new stake in shares of Metropolitan Bank in the fourth quarter valued at approximately $12,109,000. Nuveen LLC acquired a new stake in shares of Metropolitan Bank in the first quarter valued at approximately $10,206,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Metropolitan Bank by 1,726.5% in the fourth quarter. JPMorgan Chase & Co. now owns 149,280 shares of the company's stock valued at $8,718,000 after purchasing an additional 141,107 shares during the period. Institutional investors and hedge funds own 79.83% of the company's stock.

Analyst Ratings Changes

Separately, Hovde Group lifted their price objective on Metropolitan Bank from $75.00 to $79.00 and gave the company an "outperform" rating in a report on Monday.

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.

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