Metropolitan Bank Holding Corp. (NYSE:MCB) SVP Norman Scott Sells 1,473 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) SVP Norman Scott sold 1,473 shares of Metropolitan Bank stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the transaction, the senior vice president now directly owns 11,732 shares in the company, valued at approximately $679,517.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Metropolitan Bank Stock Performance

Metropolitan Bank stock opened at $54.97 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $615.28 million, a P/E ratio of 9.04 and a beta of 1.13. Metropolitan Bank Holding Corp. has a fifty-two week low of $30.72 and a fifty-two week high of $64.10. The firm’s 50 day simple moving average is $52.38 and its 200-day simple moving average is $46.34.

Wall Street Analyst Weigh In

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

Institutional Trading of Metropolitan Bank

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

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.