Metropolitan Bank Holding Corp. (NYSE:MCB – Get Free Report) EVP Nick Rosenberg sold 1,807 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $100.42, for a total transaction of $181,458.94. Following the sale, the executive vice president directly owned 22,202 shares of the company’s stock, valued at approximately $2,229,524.84. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nick Rosenberg also recently made the following trade(s):
- On Tuesday, June 30th, Nick Rosenberg sold 90 shares of Metropolitan Bank stock. The shares were sold at an average price of $100.03, for a total value of $9,002.70.
Metropolitan Bank Stock Performance
Shares of Metropolitan Bank stock traded down $2.09 during midday trading on Thursday, hitting $98.48. The company had a trading volume of 181,607 shares, compared to its average volume of 135,358. Metropolitan Bank Holding Corp. has a 1-year low of $64.66 and a 1-year high of $102.04. The business’s 50 day simple moving average is $91.93 and its two-hundred day simple moving average is $87.47. The stock has a market cap of $1.22 billion, a PE ratio of 12.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99.
Metropolitan Bank Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s dividend payout ratio (DPR) is presently 12.32%.
Institutional Trading of Metropolitan Bank
A number of institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new position in Metropolitan Bank in the first quarter valued at approximately $1,473,000. Bank of America Corp DE grew its position in Metropolitan Bank by 611.9% in the first quarter. Bank of America Corp DE now owns 141,613 shares of the company’s stock valued at $11,795,000 after acquiring an additional 121,721 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Metropolitan Bank by 272.0% in the 1st quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock valued at $108,000 after acquiring an additional 941 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Metropolitan Bank by 26.0% during the first quarter. Quantinno Capital Management LP now owns 8,112 shares of the company’s stock valued at $676,000 after purchasing an additional 1,676 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Metropolitan Bank by 6.3% during the first quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock worth $502,000 after purchasing an additional 355 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on MCB shares. UBS Group assumed coverage on Metropolitan Bank in a report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price objective on the stock. Wall Street Zen raised shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Keefe, Bruyette & Woods increased their price target on Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Metropolitan Bank has a consensus rating of “Buy” and an average target price of $103.00.
View Our Latest Stock Report on MCB
About Metropolitan Bank
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.
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