Insider Buying: Metropolitan Bank Holding Corp. (NYSE:MCB) Director Buys 450 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) Director Chaya Pamula bought 450 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $54.29 per share, with a total value of $24,430.50. Following the completion of the transaction, the director now owns 6,513 shares in the company, valued at approximately $353,590.77. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Metropolitan Bank Stock Performance

MCB traded down $1.34 on Friday, hitting $52.78. 36,275 shares of the company traded hands, compared to its average volume of 94,463. The company has a 50 day moving average of $52.64 and a 200-day moving average of $46.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $590.61 million, a PE ratio of 9.92 and a beta of 1.13. Metropolitan Bank Holding Corp. has a 12-month low of $31.35 and a 12-month high of $64.10.

Analyst Upgrades and Downgrades

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

Institutional Trading of Metropolitan Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCB. Point72 DIFC Ltd purchased a new stake in Metropolitan Bank during the 2nd quarter valued at approximately $27,000. CWM LLC raised its stake in shares of Metropolitan Bank by 70.1% during the 2nd quarter. CWM LLC now owns 784 shares of the company's stock worth $33,000 after buying an additional 323 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Metropolitan Bank during the 2nd quarter worth approximately $74,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Metropolitan Bank during the 1st quarter worth approximately $103,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Metropolitan Bank by 104.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company's stock worth $189,000 after buying an additional 2,300 shares in the last quarter. 79.83% of the stock is owned by hedge funds and other institutional investors.

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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