Key Points
- EVP Nick Rosenberg sold 1,250 shares on Jan. 21 at an average price of $90.21 for $112,762.50, trimming his stake by 4.61% to 25,839 shares valued at about $2.33 million.
- Q4 results beat expectations: Metropolitan Bank reported $2.77 EPS vs. $2.07 expected and $88.41M in revenue vs. $83.15M, with a 9.73% ROE and 13.49% net margin.
- Dividend raise and analyst support: the quarterly dividend was increased to $0.20 (ex-dividend Jan. 27, payable Feb. 6), while analysts upgraded coverage — Keefe, Bruyette & Woods set a $105 price target and Zacks moved the stock to a Strong Buy, leaving a consensus "Buy" rating.
Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) EVP Nick Rosenberg sold 1,250 shares of the firm's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $90.21, for a total value of $112,762.50. Following the sale, the executive vice president owned 25,839 shares in the company, valued at $2,330,936.19. This trade represents a 4.61% decrease 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.
Nick Rosenberg also recently made the following trade(s):
- On Wednesday, December 10th, Nick Rosenberg sold 625 shares of Metropolitan Bank stock. The shares were sold at an average price of $80.41, for a total value of $50,256.25.
Metropolitan Bank Stock Performance
NYSE MCB opened at $94.80 on Friday. The stock has a market capitalization of $976.44 million, a price-to-earnings ratio of 14.26 and a beta of 1.13. The stock has a 50-day moving average of $77.93 and a 200 day moving average of $75.39. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Metropolitan Bank Holding Corp. has a twelve month low of $47.08 and a twelve month high of $96.75.
Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.70. The business had revenue of $88.41 million during the quarter, compared to analysts' expectations of $83.15 million. Metropolitan Bank had a return on equity of 9.73% and a net margin of 13.49%. Sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.
Metropolitan Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Tuesday, January 27th will be given a dividend of $0.20 per share. This is a boost from Metropolitan Bank's previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, January 27th. Metropolitan Bank's dividend payout ratio (DPR) is currently 9.02%.
Analyst Upgrades and Downgrades
MCB has been the topic of several research analyst reports. Zacks Research upgraded Metropolitan Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on Metropolitan Bank from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Metropolitan Bank in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $92.00.
Check Out Our Latest Stock Report on Metropolitan Bank
Key Metropolitan Bank News
Here are the key news stories impacting Metropolitan Bank this week:
Hedge Funds Weigh In On Metropolitan Bank
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter worth $199,000. Allspring Global Investments Holdings LLC increased its position in Metropolitan Bank by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,502 shares of the company's stock worth $344,000 after purchasing an additional 393 shares during the last quarter. SG Americas Securities LLC raised its stake in Metropolitan Bank by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 8,055 shares of the company's stock worth $615,000 after purchasing an additional 1,660 shares during the period. JPMorgan Chase & Co. boosted its holdings in Metropolitan Bank by 53.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 178,363 shares of the company's stock valued at $13,345,000 after purchasing an additional 62,327 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Metropolitan Bank in the 3rd quarter valued at approximately $2,185,000. Institutional investors and hedge funds own 79.83% of the company's stock.
About Metropolitan Bank
(
Get Free Report)
Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.
In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.
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