Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin Sells 5,000 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) EVP Scott Lublin sold 5,000 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $78.64, for a total transaction of $393,200.00. Following the transaction, the executive vice president owned 46,179 shares in the company, valued at approximately $3,631,516.56. This trade represents a 9.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Scott Lublin also recently made the following trade(s):

• On Friday, June 20th, Scott Lublin sold 5,000 shares of Metropolitan Bank stock. The stock was sold at an average price of $65.03, for a total value of $325,150.00.

Metropolitan Bank Trading Down 1.3%

Shares of Metropolitan Bank stock traded down $0.98 during trading on Friday, hitting $73.28. 20,030 shares of the company were exchanged, compared to its average volume of 102,551. The firm has a market capitalization of $781.16 million, a P/E ratio of 11.88 and a beta of 1.08. Metropolitan Bank Holding Corp. has a 1-year low of $40.21 and a 1-year high of $80.20. The firm's fifty day moving average price is $68.97 and its 200 day moving average price is $62.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 0.98.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. Metropolitan Bank had a return on equity of 10.67% and a net margin of 13.68%. The business had revenue of $76.27 million during the quarter, compared to analyst estimates of $72.50 million. During the same period in the previous year, the firm earned $1.50 EPS. As a group, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

Metropolitan Bank declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Metropolitan Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, July 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, July 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.82%.

Hedge Funds Weigh In On Metropolitan Bank

A number of large investors have recently bought and sold shares of MCB. Charles Schwab Investment Management Inc. boosted its position in Metropolitan Bank by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,348 shares of the company's stock worth $1,772,000 after acquiring an additional 595 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Metropolitan Bank by 128.9% during the 4th quarter. Quantbot Technologies LP now owns 6,422 shares of the company's stock worth $375,000 after purchasing an additional 3,617 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Metropolitan Bank during the 4th quarter worth approximately $221,000. American Century Companies Inc. raised its stake in shares of Metropolitan Bank by 14.2% during the 4th quarter. American Century Companies Inc. now owns 245,591 shares of the company's stock worth $14,343,000 after purchasing an additional 30,547 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Metropolitan Bank during the 4th quarter worth approximately $128,000. Institutional investors and hedge funds own 79.83% of the company's stock.

Wall Street Analysts Forecast Growth

MCB has been the subject of several analyst reports. Hovde Group boosted their target price on Metropolitan Bank from $75.00 to $79.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Keefe, Bruyette & Woods boosted their target price on Metropolitan Bank from $81.00 to $95.00 and gave the stock an "outperform" rating in a research 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.