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

Metropolitan Bank Holding Corp. (NYSE:MCB) Director Robert C. Patent sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total value of $55,320.00. Following the sale, the director now owns 79,133 shares in the company, valued at approximately $4,377,637.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Metropolitan Bank Stock Performance

Shares of MCB stock opened at $53.23 on Friday. The business’s 50 day simple moving average is $53.18 and its 200 day simple moving average is $47.18. Metropolitan Bank Holding Corp. has a one year low of $32.46 and a one year high of $64.10. The stock has a market capitalization of $595.80 million, a PE ratio of 10.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99.

Analyst Ratings Changes

Several research firms have recently weighed in on MCB. Hovde Group boosted their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 price target (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd.

Hedge Funds Weigh In On Metropolitan Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its holdings in shares of Metropolitan Bank by 70.1% during the 2nd quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after buying an additional 323 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Metropolitan Bank by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 18,270 shares of the company’s stock worth $769,000 after buying an additional 367 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Metropolitan Bank during the 2nd quarter worth approximately $27,000. Salzhauer Michael boosted its holdings in shares of Metropolitan Bank by 2.3% during the 2nd quarter. Salzhauer Michael now owns 38,100 shares of the company’s stock worth $1,604,000 after buying an additional 842 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Metropolitan Bank by 12.0% during the 2nd quarter. Principal Financial Group Inc. now owns 13,591 shares of the company’s stock worth $572,000 after buying an additional 1,456 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

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.