Metropolitan Bank (NYSE:MCB) Stock Price Down 3.6% - Time to Sell?

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report)'s stock price fell 3.6% on Friday . The stock traded as low as $60.27 and last traded at $60.27. 49,937 shares were traded during trading, a decline of 47% from the average session volume of 94,304 shares. The stock had previously closed at $62.53.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCB. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $67.50 price target (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Hovde Group assumed coverage on shares of Metropolitan Bank in a research note on Thursday, September 19th. They issued an "outperform" rating and a $65.50 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Metropolitan Bank from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 23rd.

Metropolitan Bank Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $652.66 million, a price-to-earnings ratio of 9.68 and a beta of 1.13. The stock's 50 day moving average price is $51.37 and its two-hundred day moving average price is $45.69.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a return on equity of 10.47% and a net margin of 15.22%. The company had revenue of $121.90 million for the quarter, compared to analyst estimates of $68.02 million. During the same period last year, the company earned $1.37 earnings per share. On average, analysts forecast that Metropolitan Bank Holding Corp. will post 6.1 EPS for the current year.

Insider Activity at Metropolitan Bank

In related news, EVP Scott Lublin sold 1,005 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the sale, the executive vice president now directly owns 57,077 shares of the company's stock, valued at approximately $3,145,513.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.34, for a total value of $1,936,125.24. Following the sale, the chief executive officer now directly owns 181,208 shares of the company's stock, valued at approximately $10,028,050.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Lublin sold 1,005 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total transaction of $55,385.55. Following the completion of the sale, the executive vice president now directly owns 57,077 shares in the company, valued at approximately $3,145,513.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,241 shares of company stock valued at $2,060,436. Insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

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

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.