Metropolitan Bank (NYSE:MCB) Sets New 12-Month High – Here’s What Happened

Metropolitan Bank Holding Corp. (NYSE:MCB)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $69.99 and last traded at $69.25, with a volume of 4236 shares traded. The stock had previously closed at $69.33.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their price target on Metropolitan Bank from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, June 16th.

Metropolitan Bank Price Performance

The company has a market cap of $747.17 million, a price-to-earnings ratio of 11.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 0.98. The business has a fifty day moving average price of $64.56 and a 200 day moving average price of $60.47.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.16). The firm had revenue of $70.59 million for the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a return on equity of 10.53% and a net margin of 13.49%. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert C. Patent sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $65.61, for a total transaction of $131,220.00. Following the sale, the director now owns 79,183 shares in the company, valued at $5,195,196.63. The trade was a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Norman Scott sold 3,293 shares of the business’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $60.57, for a total value of $199,457.01. Following the sale, the senior vice president now owns 12,546 shares in the company, valued at $759,911.22. This represents a 20.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,200 shares of company stock worth $3,912,099 in the last 90 days. Insiders own 6.09% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

A number of institutional investors have recently made changes to their positions in MCB. Proficio Capital Partners LLC acquired a new position in shares of Metropolitan Bank in the fourth quarter worth approximately $1,405,000. Charles Schwab Investment Management Inc. boosted its holdings in Metropolitan Bank by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,348 shares of the company’s stock valued at $1,772,000 after acquiring an additional 595 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Metropolitan Bank by 68.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,819 shares of the company’s stock valued at $807,000 after acquiring an additional 5,624 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in Metropolitan Bank by 46.9% in the fourth quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in Metropolitan Bank in the fourth quarter valued at approximately $2,174,000. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area.