Insider Selling: Metropolitan Bank (NYSE:MCB) EVP Sells $181,458.94 in Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) EVP Nick Rosenberg sold 1,807 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total transaction of $181,458.94. Following the completion of the sale, the executive vice president directly owned 22,202 shares in the company, valued at approximately $2,229,524.84. This represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $9,002.70.

Metropolitan Bank Stock Performance

Metropolitan Bank stock opened at $98.48 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $1.22 billion, a P/E ratio of 12.13 and a beta of 1.00. Metropolitan Bank Holding Corp. has a 1-year low of $64.66 and a 1-year high of $102.04. The company’s 50-day moving average is $92.16 and its 200 day moving average is $87.54.

Metropolitan Bank (NYSE:MCB) 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. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.The business had revenue of $88.49 million during the quarter, compared to analyst estimates of $87.33 million.

Metropolitan Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Friday, May 1st were given a $0.25 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.00 annualized dividend and a yield of 1.0%. Metropolitan Bank’s dividend payout ratio is currently 12.32%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCB. Keefe, Bruyette & Woods boosted their price objective 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. Weiss Ratings raised shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, UBS Group started coverage on Metropolitan Bank in a report on Thursday, April 16th. They issued 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 assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Metropolitan Bank presently has a consensus rating of “Buy” and a consensus price target of $103.00.

Institutional Trading of Metropolitan Bank

Several hedge funds and other institutional investors have recently bought and sold shares of MCB. Royal Bank of Canada raised its position in shares of Metropolitan Bank by 70.4% in the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after acquiring an additional 143 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Metropolitan Bank by 0.3% in the third quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after purchasing an additional 182 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 during the last quarter. Emerald Advisers LLC bought a new position in Metropolitan Bank in the first quarter worth about $25,000. Finally, Lazard Asset Management LLC raised its holdings in Metropolitan Bank by 6.3% in the first quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock worth $502,000 after purchasing an additional 355 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

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.