Scott Lublin Sells 3,000 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Scott Lublin sold 3,000 shares of the firm’s stock in a transaction that occurred 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 $3,070,908.81. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Metropolitan Bank Stock Up 0.3 %

Metropolitan Bank stock opened at $59.33 on Tuesday. The company has a fifty day simple moving average of $61.53 and a 200 day simple moving average of $52.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56. The company has a market cap of $664.50 million, a P/E ratio of 11.15 and a beta of 1.16.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The business had revenue of $71.52 million for the quarter, compared to the consensus estimate of $66.70 million. Research analysts anticipate that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MCB shares. Piper Sandler raised their price objective on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Hovde Group boosted their price target on Metropolitan Bank from $65.50 to $68.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods increased their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Institutional Investors Weigh In On Metropolitan Bank

Several large investors have recently made changes to their positions in the stock. Basswood Capital Management L.L.C. raised its position in Metropolitan Bank by 176.8% during the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after acquiring an additional 388,200 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Metropolitan Bank by 21.1% in the 2nd quarter. American Century Companies Inc. now owns 186,440 shares of the company’s stock valued at $7,847,000 after purchasing an additional 32,491 shares during the period. AQR Capital Management LLC lifted its stake in Metropolitan Bank by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 130,340 shares of the company’s stock valued at $5,486,000 after purchasing an additional 31,397 shares during the last quarter. Millennium Management LLC bought a new position in Metropolitan Bank during the second quarter worth about $4,991,000. Finally, 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. Institutional investors and hedge funds own 79.83% of the company’s stock.

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.