Insider Selling: Metropolitan Bank (NYSE:MCB) Director Sells $451,050.00 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Robert Patent sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $90.21, for a total transaction of $451,050.00. Following the transaction, the director owned 96,185 shares in the company, valued at $8,676,848.85. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Metropolitan Bank Trading Down 0.2%

Shares of NYSE:MCB opened at $90.69 on Monday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.17 and a beta of 1.01. Metropolitan Bank Holding Corp. has a 1-year low of $63.81 and a 1-year high of $97.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $88.23 and a 200 day moving average price of $84.69.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.73. The firm had revenue of $88.49 million during the quarter, compared to analysts’ expectations of $87.33 million. Metropolitan Bank had a net margin of 15.89% and a return on equity of 10.95%.

Metropolitan Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 1st. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Metropolitan Bank’s payout ratio is 12.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods raised their price objective on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, UBS Group started coverage on shares of Metropolitan Bank in a research note on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $95.00.

Institutional Investors Weigh In On Metropolitan Bank

A number of institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC acquired a new stake in shares of Metropolitan Bank during the 1st quarter valued at $1,473,000. Bank of America Corp DE boosted its stake in shares of Metropolitan Bank by 611.9% during the 1st 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 during the period. Royal Bank of Canada boosted its stake in shares of Metropolitan Bank by 272.0% during the 1st quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock valued at $108,000 after buying an additional 941 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Metropolitan Bank by 26.0% during the 1st quarter. Quantinno Capital Management LP now owns 8,112 shares of the company’s stock valued at $676,000 after buying an additional 1,676 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Metropolitan Bank by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock valued at $502,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

About Metropolitan Bank

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.