Metropolitan Bank (NYSE:MCB) Hits New 1-Year Low on Insider Selling

Metropolitan Bank Holding Corp. (NYSE:MCB)’s share price hit a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $61.00 and last traded at $62.06, with a volume of 157789 shares changing hands. The stock had previously closed at $62.27.

Specifically, SVP Norman Scott sold 3,293 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $60.57, for a total value of $199,457.01. Following the transaction, the senior vice president now owns 12,546 shares of the company’s stock, valued at $759,911.22. This trade represents a 20.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Separately, Hovde Group raised their price target on Metropolitan Bank from $75.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, January 27th.

Metropolitan Bank Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $688.07 million, a price-to-earnings ratio of 10.50 and a beta of 0.95. The business’s 50 day simple moving average is $55.63 and its 200-day simple moving average is $59.33.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Monday, April 21st. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.16). Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. The business had revenue of $70.59 million for the quarter, compared to the consensus estimate of $67.62 million. During the same period in the previous year, the firm earned $1.46 EPS. Research analysts anticipate that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Institutional Investors Weigh In On Metropolitan Bank

Several institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its position in shares of Metropolitan Bank by 46.9% during the 4th quarter. Picton Mahoney Asset Management now owns 504 shares of the company’s stock worth $30,000 after buying an additional 161 shares in the last quarter. GAMMA Investing LLC lifted its position in Metropolitan Bank by 289.5% in the first quarter. GAMMA Investing LLC now owns 596 shares of the company’s stock worth $33,000 after purchasing an additional 443 shares during the period. USA Financial Formulas bought a new position in Metropolitan Bank during the 4th quarter valued at $66,000. R Squared Ltd acquired a new position in shares of Metropolitan Bank during the 4th quarter valued at $91,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Metropolitan Bank in the 4th quarter worth $128,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

About Metropolitan Bank

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.