Insider Selling: Metropolitan Bank Holding Corp. (NYSE:MCB) SVP Sells 1,473 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) SVP Norman Scott sold 1,473 shares of Metropolitan Bank stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the sale, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Metropolitan Bank Stock Performance

NYSE MCB traded down $0.64 on Wednesday, hitting $54.97. 30,612 shares of the stock were exchanged, compared to its average volume of 94,762. The business's fifty day moving average is $52.14 and its 200 day moving average is $46.28. Metropolitan Bank Holding Corp. has a 52 week low of $30.72 and a 52 week high of $64.10. The company has a market capitalization of $615.28 million, a PE ratio of 9.15 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99.

Institutional Investors Weigh In On Metropolitan Bank

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Metropolitan Bank by 112.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company's stock worth $4,690,000 after buying an additional 47,193 shares during the last quarter. Creative Planning acquired a new position in shares of Metropolitan Bank during the 3rd quarter worth approximately $276,000. Unison Advisors LLC bought a new stake in Metropolitan Bank in the 3rd quarter valued at $710,000. CWM LLC lifted its holdings in Metropolitan Bank by 127.0% during the 3rd quarter. CWM LLC now owns 1,780 shares of the company's stock valued at $94,000 after purchasing an additional 996 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Metropolitan Bank by 32.1% during the 3rd quarter. SG Americas Securities LLC now owns 8,561 shares of the company's stock valued at $450,000 after purchasing an additional 2,080 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Hovde Group lifted their price objective on shares of Metropolitan Bank from $65.50 to $68.00 and gave the company an "outperform" rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, July 23rd.

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.

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