Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) Director Sells 1,000 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) Director Dale C. Fredston sold 1,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total value of $62,270.00. Following the transaction, the director now owns 17,668 shares in the company, valued at $1,100,186.36. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Metropolitan Bank Price Performance

NYSE MCB traded down $0.68 during trading hours on Thursday, reaching $61.40. 25,089 shares of the stock traded hands, compared to its average volume of 77,508. The stock has a 50 day simple moving average of $61.23 and a two-hundred day simple moving average of $57.39. Metropolitan Bank Holding Corp. has a 1 year low of $32.46 and a 1 year high of $69.56. 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 $687.68 million, a price-to-earnings ratio of 10.37 and a beta of 1.18.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) 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%. On average, analysts predict that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Institutional Trading of Metropolitan Bank

Several large investors have recently added to or reduced their stakes in MCB. CWM LLC lifted its holdings in shares of Metropolitan Bank by 127.0% in the third quarter. CWM LLC now owns 1,780 shares of the company's stock worth $94,000 after buying an additional 996 shares in the last quarter. Creative Planning bought a new position in Metropolitan Bank during the third quarter valued at $276,000. Assenagon Asset Management S.A. grew its holdings in shares of Metropolitan Bank by 112.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company's stock worth $4,690,000 after purchasing an additional 47,193 shares during the last quarter. Sippican Capital Advisors grew its holdings in shares of Metropolitan Bank by 87.1% in the third quarter. Sippican Capital Advisors now owns 12,954 shares of the company's stock worth $681,000 after purchasing an additional 6,030 shares during the last quarter. Finally, Summit Global Investments purchased a new stake in Metropolitan Bank in the third quarter worth about $328,000. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCB. Piper Sandler boosted their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods boosted their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Hovde Group upped their price target on Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a research report on Monday, January 27th.

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.