Metropolitan Bank Holding Corp. (NYSE:MCB) Director Sells $131,220.00 in Stock

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

Metropolitan Bank Stock Performance

MCB traded up $2.07 during trading on Monday, hitting $67.02. 51,892 shares of the stock were exchanged, compared to its average volume of 92,272. The firm has a market capitalization of $714.43 million, a P/E ratio of 11.34 and a beta of 1.08. Metropolitan Bank Holding Corp. has a 1-year low of $38.56 and a 1-year high of $69.56. The stock has a fifty day moving average price of $63.01 and a two-hundred day moving average price of $60.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.24.

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

Institutional Investors Weigh In On Metropolitan Bank

Several hedge funds have recently made changes to their positions in MCB. Proficio Capital Partners LLC purchased a new stake in Metropolitan Bank during the 4th quarter valued at approximately $1,405,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Metropolitan Bank by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,348 shares of the company's stock valued at $1,772,000 after purchasing an additional 595 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Metropolitan Bank by 68.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company's stock valued at $807,000 after purchasing an additional 5,624 shares during the period. Picton Mahoney Asset Management raised its stake in shares of Metropolitan Bank by 46.9% during the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of Metropolitan Bank during the fourth quarter worth $2,174,000. Institutional investors and hedge funds own 79.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their price target on shares of Metropolitan Bank from $75.00 to $79.00 and gave the company an "outperform" rating in a research report on Monday, June 16th.

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.