Metropolitan Bank Holding Corp. (NYSE:MCB) Sees Large Increase in Short Interest

Metropolitan Bank Holding Corp. (NYSE:MCB) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 558,882 shares, an increase of 17.8% from the February 12th total of 474,622 shares. Based on an average trading volume of 294,408 shares, the short-interest ratio is currently 1.9 days. Currently, 5.9% of the shares of the company are sold short. Currently, 5.9% of the shares of the company are sold short. Based on an average trading volume of 294,408 shares, the short-interest ratio is currently 1.9 days.

Metropolitan Bank Stock Performance

MCB stock traded up $0.57 during midday trading on Tuesday, hitting $79.80. 200,296 shares of the stock traded hands, compared to its average volume of 225,361. Metropolitan Bank has a 1-year low of $47.08 and a 1-year high of $97.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day simple moving average is $87.14 and its 200-day simple moving average is $79.42. The firm has a market cap of $807.54 million, a P/E ratio of 12.00 and a beta of 1.13.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.70. Metropolitan Bank had a net margin of 13.49% and a return on equity of 9.69%. The business had revenue of $88.41 million during the quarter, compared to the consensus estimate of $83.15 million. On average, analysts expect that Metropolitan Bank will post 7.31 earnings per share for the current year.

Metropolitan Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 6th. Investors of record on Tuesday, January 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, January 27th. This is a positive change from Metropolitan Bank’s previous quarterly dividend of $0.15. Metropolitan Bank’s payout ratio is currently 12.03%.

Insider Buying and Selling at Metropolitan Bank

In related news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $90.21, for a total value of $112,762.50. Following the completion of the transaction, the executive vice president owned 25,839 shares in the company, valued at $2,330,936.19. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert C. Patent sold 10,000 shares of Metropolitan Bank stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $94.99, for a total value of $949,900.00. Following the sale, the director directly owned 88,685 shares of the company’s stock, valued at approximately $8,424,188.15. This represents a 10.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 15,695 shares of company stock worth $1,472,847. 6.09% of the stock is owned by insiders.

Institutional Trading of Metropolitan Bank

Institutional investors have recently bought and sold shares of the business. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Metropolitan Bank during the 3rd quarter worth approximately $2,198,000. American Century Companies Inc. grew its stake in Metropolitan Bank by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 298,469 shares of the company’s stock valued at $20,893,000 after acquiring an additional 25,864 shares during the period. Bank of New York Mellon Corp increased its holdings in Metropolitan Bank by 107.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 148,257 shares of the company’s stock worth $10,378,000 after acquiring an additional 76,745 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Metropolitan Bank during the third quarter worth $1,597,000. Finally, Patriot Financial Partners GP II L.P. acquired a new position in Metropolitan Bank during the third quarter worth $57,229,000. 79.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Metropolitan Bank in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Metropolitan Bank from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded shares of Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Metropolitan Bank from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Metropolitan Bank has a consensus rating of “Buy” and an average target price of $92.00.

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.