Key Points
- Metropolitan Bank EVP Nick Rosenberg sold 1,807 shares on July 1 at an average price of $100.42, totaling $181,458.94. The sale reduced his direct ownership by 7.53% and was made under a pre-arranged Rule 10b5-1 plan.
- MCB shares were down 2.1% and opened at $98.48, near the stock’s 52-week high of $102.04. The company has a market cap of $1.22 billion and a P/E ratio of 12.13.
- Metropolitan Bank recently beat earnings expectations, reporting EPS of $2.92 versus the $2.19 consensus, while also raising its quarterly dividend to $0.25 per share from $0.20. Analysts currently have an average rating of “Buy” with an average target price of $103.00.
Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) EVP Nick Rosenberg sold 1,807 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total value of $181,458.94. Following the sale, the executive vice president directly owned 22,202 shares of the company's stock, valued at $2,229,524.84. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nick Rosenberg also recently made the following trade(s):
- On Tuesday, June 30th, Nick Rosenberg sold 90 shares of Metropolitan Bank stock. The stock was sold at an average price of $100.03, for a total value of $9,002.70.
Metropolitan Bank Stock Down 2.1%
MCB stock opened at $98.48 on Friday. The stock has a market cap of $1.22 billion, a P/E ratio of 12.13 and a beta of 1.00. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. The stock's fifty day simple moving average is $91.93 and its two-hundred day simple moving average is $87.47. Metropolitan Bank Holding Corp. has a 1-year low of $64.66 and a 1-year high of $102.04.
Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.73. The firm had revenue of $88.49 million during the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.
Metropolitan Bank Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 1st. This is an increase from Metropolitan Bank's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.0%. Metropolitan Bank's dividend payout ratio (DPR) is currently 12.32%.
Analyst Upgrades and Downgrades
Several brokerages have commented on MCB. Weiss Ratings raised shares of Metropolitan Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods increased their target price on shares of Metropolitan Bank from $105.00 to $109.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Metropolitan Bank from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Finally, UBS Group started coverage on shares of Metropolitan Bank in a research note on Thursday, April 16th. They set a "neutral" rating and a $97.00 price target for the company. One equities 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. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $103.00.
Get Our Latest Report on Metropolitan Bank
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MCB. Royal Bank of Canada lifted its position in shares of Metropolitan Bank by 11.7% during the first quarter. Royal Bank of Canada now owns 7,429 shares of the company's stock worth $416,000 after acquiring an additional 778 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Metropolitan Bank by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company's stock valued at $350,000 after purchasing an additional 237 shares in the last quarter. Empowered Funds LLC grew its position in shares of Metropolitan Bank by 5.3% in the first quarter. Empowered Funds LLC now owns 42,268 shares of the company's stock valued at $2,367,000 after purchasing an additional 2,126 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Metropolitan Bank by 39.2% during the 2nd quarter. Quantbot Technologies LP now owns 6,074 shares of the company's stock valued at $425,000 after purchasing an additional 1,709 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Metropolitan Bank by 854.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 41,747 shares of the company's stock worth $2,922,000 after purchasing an additional 37,374 shares in the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.
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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