Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $52.73, but opened at $53.93. Metropolitan Bank shares last traded at $53.78, with a volume of 35,615 shares changing hands.
Wall Street Analyst Weigh In
MCB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler upped 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, Hovde Group raised their target price on Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a research note on Monday, January 27th.
Read Our Latest Stock Report on MCB
Metropolitan Bank Price Performance
The company has a fifty day moving average price of $60.42 and a two-hundred day moving average price of $58.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company has a market cap of $600.49 million, a price-to-earnings ratio of 9.03 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. As a group, equities research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.
Insider Activity
In other news, Director Dale C. Fredston sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total transaction of $62,270.00. Following the transaction, the director now directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Lublin sold 3,000 shares of the firm's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the sale, the executive vice president now owns 52,253 shares in the company, valued at approximately $3,070,908.81. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company's stock.
Hedge Funds Weigh In On Metropolitan Bank
Several institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management increased its holdings 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 purchasing an additional 161 shares during the period. USA Financial Formulas bought a new position in Metropolitan Bank during the 4th quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company's stock valued at $71,000 after acquiring an additional 921 shares in the last quarter. R Squared Ltd bought a new stake in shares of Metropolitan Bank during the 4th quarter valued at $91,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Metropolitan Bank during the 4th quarter valued at $128,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Metropolitan Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Metropolitan Bank wasn't on the list.
While Metropolitan Bank currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
