Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) CFO Daniel Dougherty acquired 1,000 shares of the business's stock in a transaction on Thursday, July 23rd. The shares were bought at an average price of $89.98 per share, for a total transaction of $89,980.00. Following the acquisition, the chief financial officer owned 33,197 shares in the company, valued at approximately $2,987,066.06. This trade represents a 3.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Metropolitan Bank Price Performance
MCB stock opened at $92.03 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a one year low of $64.66 and a one year high of $102.04. The firm has a market capitalization of $1.14 billion, a PE ratio of 11.65 and a beta of 1.00. The firm has a 50-day moving average of $94.63 and a two-hundred day moving average of $89.68.
Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.76). The firm had revenue of $93.01 million during the quarter, compared to analyst estimates of $93.39 million. Metropolitan Bank had a return on equity of 10.72% and a net margin of 14.31%.
Metropolitan Bank Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Friday, July 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Metropolitan Bank's previous quarterly dividend of $0.25. Metropolitan Bank's dividend payout ratio (DPR) is 12.66%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on MCB shares. Wall Street Zen cut shares of Metropolitan Bank from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group reduced their target price on Metropolitan Bank from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday. Weiss Ratings raised Metropolitan Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods lowered their price target on Metropolitan Bank from $120.00 to $110.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Metropolitan Bank presently has a consensus rating of "Buy" and an average target price of $105.00.
Get Our Latest Research Report on MCB
Institutional Investors Weigh In On Metropolitan Bank
Institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its holdings in Metropolitan Bank by 114.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 559,479 shares of the company's stock worth $42,722,000 after purchasing an additional 299,061 shares in the last quarter. Wellington Management Group LLP raised its holdings in Metropolitan Bank by 66.6% during the fourth quarter. Wellington Management Group LLP now owns 592,799 shares of the company's stock valued at $45,266,000 after buying an additional 236,946 shares in the last quarter. Bank of America Corp DE raised its holdings in Metropolitan Bank by 611.9% during the first quarter. Bank of America Corp DE now owns 141,613 shares of the company's stock valued at $11,795,000 after buying an additional 121,721 shares in the last quarter. UBS Group AG lifted its position in shares of Metropolitan Bank by 363.5% in the fourth quarter. UBS Group AG now owns 64,832 shares of the company's stock worth $4,951,000 after buying an additional 50,844 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Metropolitan Bank by 418.5% in the third quarter. Millennium Management LLC now owns 47,455 shares of the company's stock worth $3,551,000 after buying an additional 38,302 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.
Metropolitan Bank Company Profile
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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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