Metropolitan Bank (NYSE:MCB) EVP Nick Rosenberg Sells 1,250 Shares

by · The Markets Daily

Metropolitan Bank Holding Corp. (NYSE:MCB – Get Free Report) EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $90.21, for a total transaction of $112,762.50. Following the completion of the sale, the executive vice president owned 25,839 shares of the company’s stock, valued at approximately $2,330,936.19. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 transaction of $50,256.25.

Metropolitan Bank Trading Up 4.5%

Shares of MCB traded up $4.09 during mid-day trading on Thursday, hitting $94.80. 305,603 shares of the company’s stock traded hands, compared to its average volume of 174,350. The firm has a market capitalization of $976.44 million, a P/E ratio of 14.26 and a beta of 1.13. The business’s 50-day moving average price is $77.93 and its 200-day moving average price is $75.39. Metropolitan Bank Holding Corp. has a 1 year low of $47.08 and a 1 year high of $96.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Metropolitan Bank (NYSE:MCB – Get Free Report) last announced its earnings results on Tuesday, January 20th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.70. Metropolitan Bank had a net margin of 13.49% and a return on equity of 9.73%. The firm had revenue of $88.41 million for the quarter, compared to analysts’ expectations of $83.15 million. As a group, sell-side analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current fiscal year.

Metropolitan Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Tuesday, January 27th will be paid a $0.20 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, January 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Metropolitan Bank’s dividend payout ratio (DPR) is currently 9.02%.

Analyst Ratings Changes

Several research firms have recently issued reports on MCB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Metropolitan Bank in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Metropolitan Bank from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Metropolitan Bank has an average rating of “Moderate Buy” and an average price target of $92.00.

Check Out Our Latest Stock Report on Metropolitan Bank

Institutional Trading of Metropolitan Bank

A number of hedge funds have recently modified their holdings of the stock. Patriot Financial Partners GP II L.P. purchased a new position in Metropolitan Bank in the 3rd quarter valued at $57,229,000. Bank of New York Mellon Corp lifted its holdings in Metropolitan Bank by 107.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,257 shares of the company’s stock worth $10,378,000 after buying an additional 76,745 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Metropolitan Bank by 53.7% during the third quarter. JPMorgan Chase & Co. now owns 178,363 shares of the company’s stock worth $13,345,000 after buying an additional 62,327 shares in the last quarter. Fourthstone LLC lifted its holdings in Metropolitan Bank by 85.8% during the 2nd quarter. Fourthstone LLC now owns 129,634 shares of the company’s stock worth $9,074,000 after buying an additional 59,865 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Metropolitan Bank by 418.5% in the 3rd quarter. Millennium Management LLC now owns 47,455 shares of the company’s stock valued at $3,551,000 after buying an additional 38,302 shares in the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank News Summary

Here are the key news stories impacting Metropolitan Bank this week:

Metropolitan Bank Company Profile

(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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