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

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.

About Metropolitan Bank

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.