Key Points
- EVP Nick Rosenberg sold 625 shares on Dec. 10 at an average price of $80.41 for $50,256.25, trimming his stake by 2.26% to 27,089 shares; he also executed sales of 625 shares (Oct. 17) and 1,250 shares (Sept. 17) earlier this year.
- Metropolitan Bank reported a quarterly EPS of $0.67 vs. $1.95 expected (a notable miss); the company has a market cap of ~$823.1M, a P/E of 13.88, a one‑year high of $82.38, and a consensus analyst price target of $84.50 (Moderate Buy).
Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) EVP Nick Rosenberg sold 625 shares of the firm's stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $80.41, for a total transaction of $50,256.25. Following the completion of the sale, the executive vice president owned 27,089 shares in the company, valued at $2,178,226.49. This represents a 2.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Nick Rosenberg also recently made the following trade(s):
- On Friday, October 17th, Nick Rosenberg sold 625 shares of Metropolitan Bank stock. The shares were sold at an average price of $72.47, for a total transaction of $45,293.75.
- On Wednesday, September 17th, Nick Rosenberg sold 1,250 shares of Metropolitan Bank stock. The stock was sold at an average price of $79.47, for a total value of $99,337.50.
Metropolitan Bank Stock Performance
Shares of MCB opened at $79.93 on Friday. The firm has a market capitalization of $823.09 million, a P/E ratio of 13.88 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. Metropolitan Bank Holding Corp. has a one year low of $47.08 and a one year high of $82.38. The business has a fifty day moving average of $72.85 and a 200 day moving average of $72.72.
Metropolitan Bank (NYSE:MCB - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($1.28). Metropolitan Bank had a net margin of 12.46% and a return on equity of 8.71%. The firm had revenue of $79.84 million for the quarter, compared to the consensus estimate of $78.28 million. As a group, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.
Metropolitan Bank Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, October 30th were given a $0.15 dividend. The ex-dividend date was Thursday, October 30th. This represents a $0.60 annualized dividend and a yield of 0.8%. Metropolitan Bank's dividend payout ratio (DPR) is presently 10.42%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on MCB shares. Weiss Ratings restated a "hold (c+)" rating on shares of Metropolitan Bank in a research note on Wednesday, October 8th. Zacks Research cut Metropolitan Bank from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lowered their price objective on Metropolitan Bank from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.50.
Check Out Our Latest Analysis on MCB
Hedge Funds Weigh In On Metropolitan Bank
A number of hedge funds have recently made changes to their positions in MCB. Patriot Financial Partners GP II L.P. bought a new stake in Metropolitan Bank during the 3rd quarter valued at approximately $57,229,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Metropolitan Bank during the first quarter valued at approximately $12,602,000. Nuveen LLC purchased a new position in shares of Metropolitan Bank in the first quarter worth $10,206,000. Bank of New York Mellon Corp boosted its position in shares of Metropolitan Bank by 107.3% during the second quarter. Bank of New York Mellon Corp now owns 148,257 shares of the company's stock worth $10,378,000 after acquiring an additional 76,745 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Metropolitan Bank by 53.7% during the third quarter. JPMorgan Chase & Co. now owns 178,363 shares of the company's stock valued at $13,345,000 after acquiring an additional 62,327 shares in the last quarter. Institutional investors own 79.83% of the company's stock.
Metropolitan Bank Company Profile
(
Get Free Report)
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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