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

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Dale C. Fredston sold 1,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $62.27, for a total transaction of $62,270.00. Following the transaction, the director now directly owns 17,668 shares in the company, valued at approximately $1,100,186.36. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Metropolitan Bank Trading Up 0.0 %

MCB opened at $62.01 on Thursday. The stock has a market capitalization of $694.49 million, a PE ratio of 10.47 and a beta of 1.18. The firm’s fifty day moving average price is $61.23 and its 200 day moving average price is $57.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank Holding Corp. has a 12-month low of $32.46 and a 12-month high of $69.56.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCB shares. Piper Sandler boosted their target price on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods upped their price target on shares of Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Hovde Group upped their price target on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a report on Monday, January 27th.

Institutional Trading of Metropolitan Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Metropolitan Bank by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 645,360 shares of the company’s stock worth $37,689,000 after purchasing an additional 10,545 shares during the period. Basswood Capital Management L.L.C. grew its position in shares of Metropolitan Bank by 176.8% during the third quarter. Basswood Capital Management L.L.C. now owns 607,805 shares of the company’s stock worth $31,958,000 after acquiring an additional 388,200 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Metropolitan Bank by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 291,235 shares of the company’s stock worth $17,008,000 after acquiring an additional 41,449 shares during the last quarter. American Century Companies Inc. grew its position in shares of Metropolitan Bank by 14.2% during the fourth quarter. American Century Companies Inc. now owns 245,591 shares of the company’s stock worth $14,343,000 after acquiring an additional 30,547 shares during the last quarter. Finally, Banc Funds Co. LLC grew its position in shares of Metropolitan Bank by 1.2% during the fourth quarter. Banc Funds Co. LLC now owns 243,254 shares of the company’s stock worth $14,206,000 after acquiring an additional 3,000 shares during the last quarter. 79.83% of the stock is owned by institutional investors and hedge funds.

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.