Metropolitan Bank (NYSE:MCB) Trading Down 1.1% – What’s Next?

Metropolitan Bank Holding Corp. (NYSE:MCB) shares were down 1.1% during mid-day trading on Wednesday . The stock traded as low as $77.29 and last traded at $78.6690. Approximately 179,503 shares changed hands during mid-day trading, an increase of 94% from the average daily volume of 92,464 shares. The stock had previously closed at $79.54.

Analyst Ratings Changes

Several analysts recently commented on MCB shares. Zacks Research downgraded shares of Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods dropped their target price on shares of Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Metropolitan Bank in a report on Wednesday, October 8th. Two investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Metropolitan Bank Price Performance

The firm has a 50-day simple moving average of $75.15 and a 200-day simple moving average of $74.66. The firm has a market capitalization of $821.66 million, a PE ratio of 13.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($1.28). The business had revenue of $79.84 million during the quarter, compared to the consensus estimate of $78.28 million. Metropolitan Bank had a return on equity of 8.71% and a net margin of 12.46%. As a group, equities analysts forecast that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Metropolitan Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Thursday, October 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Metropolitan Bank’s payout ratio is presently 10.42%.

Insider Buying and Selling

In other news, EVP Nick Rosenberg sold 625 shares of Metropolitan Bank stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $80.41, for a total transaction of $50,256.25. Following the transaction, the executive vice president directly owned 27,089 shares of the company’s stock, valued at $2,178,226.49. The trade was a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Lublin sold 5,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $74.36, for a total transaction of $371,800.00. Following the completion of the sale, the executive vice president directly owned 41,179 shares of the company’s stock, valued at $3,062,070.44. This represents a 10.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 1,167 shares of company stock valued at $83,010 and have sold 6,250 shares valued at $467,350. 6.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC raised its holdings in Metropolitan Bank by 0.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after buying an additional 182 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Metropolitan Bank by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after buying an additional 237 shares during the period. SummerHaven Investment Management LLC increased its position in Metropolitan Bank by 1.4% during the second quarter. SummerHaven Investment Management LLC now owns 18,247 shares of the company’s stock valued at $1,277,000 after acquiring an additional 249 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Metropolitan Bank by 7.7% in the second quarter. Lazard Asset Management LLC now owns 5,671 shares of the company’s stock valued at $396,000 after acquiring an additional 407 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Metropolitan Bank in the third quarter valued at $31,000. 79.83% of the stock is owned by hedge funds and other institutional investors.

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.