Metropolitan Bank Holding Corp. (NYSE:MCB) CEO Sells $826,520.64 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) CEO Mark R. Defazio sold 15,088 shares of Metropolitan Bank stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the sale, the chief executive officer now directly owns 100,628 shares of the company's stock, valued at $5,512,401.84. This represents a 13.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Metropolitan Bank Price Performance

MCB traded up $0.04 during trading on Friday, hitting $55.18. 149,135 shares of the stock traded hands, compared to its average volume of 86,532. Metropolitan Bank Holding Corp. has a twelve month low of $32.46 and a twelve month high of $69.56. The business has a 50 day moving average price of $59.99 and a 200 day moving average price of $58.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $619.38 million, a price-to-earnings ratio of 9.32 and a beta of 1.17.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Equities research analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Metropolitan Bank

A number of institutional investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management grew 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 buying an additional 161 shares during the last quarter. USA Financial Formulas bought a new stake in Metropolitan Bank during the 4th quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. raised its position in Metropolitan Bank by 212.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock valued at $71,000 after purchasing an additional 921 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Metropolitan Bank during the fourth quarter valued at about $91,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Metropolitan Bank during the 4th quarter worth approximately $128,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Hovde Group raised their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a report on Monday, January 27th. Piper Sandler lifted their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods increased their target price on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.

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.