Insider Buying: Metropolitan Bank Holding Corp. (NYSE:MCB) Director Acquires 1,000 Shares of Stock

Metropolitan Bank Holding Corp. (NYSE:MCB) Director David J. Gold acquired 1,000 shares of the stock in a transaction on Monday, September 20th. The shares were purchased at an average cost of $75.00 per share, with a total value of $75,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of NYSE:MCB traded up $2.02 on Wednesday, hitting $78.98. 1,745 shares of the company traded hands, compared to its average volume of 53,039. Metropolitan Bank Holding Corp. has a 52 week low of $25.51 and a 52 week high of $82.60. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $73.57 and a 200-day simple moving average of $63.95. The company has a market cap of $659.01 million, a PE ratio of 14.00 and a beta of 1.35.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Tuesday, July 20th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.14. Metropolitan Bank had a return on equity of 13.90% and a net margin of 28.29%. The firm had revenue of $43.13 million during the quarter, compared to the consensus estimate of $40.02 million. As a group, sell-side analysts anticipate that Metropolitan Bank Holding Corp. will post 6.35 earnings per share for the current year.

Several large investors have recently modified their holdings of MCB. Federated Hermes Inc. increased its holdings in shares of Metropolitan Bank by 80.0% during the second quarter. Federated Hermes Inc. now owns 468 shares of the company’s stock valued at $28,000 after acquiring an additional 208 shares in the last quarter. UBS Group AG increased its holdings in shares of Metropolitan Bank by 25.8% during the first quarter. UBS Group AG now owns 1,257 shares of the company’s stock valued at $63,000 after acquiring an additional 258 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Metropolitan Bank by 64.1% during the first quarter. Lazard Asset Management LLC now owns 1,844 shares of the company’s stock valued at $92,000 after acquiring an additional 720 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in Metropolitan Bank by 115,900.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 2,320 shares of the company’s stock worth $140,000 after buying an additional 2,318 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Metropolitan Bank by 60.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,296 shares of the company’s stock worth $166,000 after buying an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 67.22% of the company’s stock.

Separately, Zacks Investment Research raised Metropolitan Bank from a “sell” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, July 29th.

Metropolitan Bank Company Profile

Metropolitan Bank Holding Corp. engages in the provision of banking solutions through its subsidiary, the Metropolitan Commercial Bank. It provides a range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities, and affluent individuals.

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