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Nick Rosenberg Sells 1,250 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

Metropolitan Bank logo with Finance background

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) EVP Nick Rosenberg sold 1,250 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $75.05, for a total value of $93,812.50. Following the completion of the transaction, the executive vice president owned 29,589 shares in the company, valued at $2,220,654.45. This represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Metropolitan Bank Stock Performance

Metropolitan Bank stock traded up $0.13 during mid-day trading on Wednesday, reaching $74.11. 7,634 shares of the company's stock were exchanged, compared to its average volume of 100,085. The business's fifty day simple moving average is $66.45 and its 200 day simple moving average is $61.00. The firm has a market capitalization of $790.01 million, a PE ratio of 12.54 and a beta of 1.08. Metropolitan Bank Holding Corp. has a one year low of $40.21 and a one year high of $75.60. 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 issued its quarterly earnings results on Monday, April 21st. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. During the same quarter last year, the business posted $1.46 earnings per share. On average, sell-side analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Institutional Trading of Metropolitan Bank

A number of hedge funds have recently bought and sold shares of MCB. Charles Schwab Investment Management Inc. lifted its holdings in Metropolitan Bank by 2.0% during the fourth 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 period. Proficio Capital Partners LLC bought a new stake in Metropolitan Bank during the fourth quarter worth $1,405,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Metropolitan Bank by 68.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company's stock worth $807,000 after acquiring an additional 5,624 shares during the period. Picton Mahoney Asset Management increased its position in Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company's stock worth $30,000 after buying an additional 161 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in Metropolitan Bank in the fourth quarter worth $2,174,000. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on Metropolitan Bank

About Metropolitan Bank

(Get Free Report)

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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