Daniel Dougherty Buys 1,000 Shares of Metropolitan Bank (NYSE:MCB) Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) CFO Daniel Dougherty purchased 1,000 shares of Metropolitan Bank stock in a transaction that occurred on Thursday, July 23rd. The stock was acquired at an average cost of $89.98 per share, with a total value of $89,980.00. Following the transaction, the chief financial officer owned 33,197 shares in the company, valued at $2,987,066.06. This trade represents a 3.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Metropolitan Bank Stock Up 0.4%

Metropolitan Bank stock opened at $92.41 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. Metropolitan Bank Holding Corp. has a 1-year low of $64.66 and a 1-year high of $102.04. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.70 and a beta of 1.00. The firm’s fifty day moving average price is $94.66 and its two-hundred day moving average price is $89.76.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.76). The business had revenue of $93.01 million during the quarter, compared to the consensus estimate of $93.39 million. Metropolitan Bank had a net margin of 14.31% and a return on equity of 10.72%.

Metropolitan Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, July 31st. Metropolitan Bank’s payout ratio is currently 12.66%.

Institutional Trading of Metropolitan Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCB. Emerald Advisers LLC bought a new position in Metropolitan Bank in the first quarter worth about $25,000. Royal Bank of Canada boosted its position in Metropolitan Bank by 70.4% during the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 143 shares in the last quarter. Quarry LP bought a new stake in Metropolitan Bank during the 3rd quarter valued at approximately $48,000. Kestra Advisory Services LLC purchased a new position in shares of Metropolitan Bank during the 4th quarter worth approximately $51,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock worth $117,000 after acquiring an additional 490 shares during the period. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MCB shares. Keefe, Bruyette & Woods dropped their price objective on Metropolitan Bank from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, UBS Group reduced their price objective on Metropolitan Bank from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $105.00.

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.