Metropolitan Bank Holding Corp. (NYSE:MCB) Director Dale C. Fredston Sells 1,000 Shares

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Dale C. Fredston sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $62.27, for a total value of $62,270.00. Following the completion of the sale, the director now owns 17,668 shares in the company, valued at $1,100,186.36. This represents a 5.36 % 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 Price Performance

Metropolitan Bank stock opened at $61.74 on Wednesday. Metropolitan Bank Holding Corp. has a 12 month low of $32.46 and a 12 month high of $69.56. The stock’s 50 day moving average is $61.39 and its 200-day moving average is $57.24. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $691.49 million, a price-to-earnings ratio of 10.43 and a beta of 1.18.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, January 23rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. Equities research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Hovde Group upped their price objective on Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upped their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 13th.

Hedge Funds Weigh In On Metropolitan Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management grew its position in shares of 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 purchasing an additional 161 shares during the last quarter. USA Financial Formulas acquired a new stake in Metropolitan Bank during the fourth quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. grew its position in Metropolitan Bank by 212.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after buying an additional 921 shares in the last quarter. R Squared Ltd acquired a new stake in Metropolitan Bank during the fourth quarter worth approximately $91,000. Finally, CWM LLC grew its position in Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after buying an additional 996 shares in the last quarter. Institutional investors and hedge funds 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.