Metropolitan Bank (NYSE:MCB) Shares Down 1.1% – Time to Sell?

Metropolitan Bank Holding Corp. (NYSE:MCB)’s share price was down 1.1% during mid-day trading on Wednesday . The stock traded as low as $77.29 and last traded at $78.6690. Approximately 179,503 shares traded hands during mid-day trading, an increase of 94% from the average daily volume of 92,464 shares. The stock had previously closed at $79.54.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MCB shares. Keefe, Bruyette & Woods reduced their target price on shares of Metropolitan Bank from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Zacks Research lowered Metropolitan Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Metropolitan Bank in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Metropolitan Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

Metropolitan Bank Price Performance

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market cap of $810.29 million, a PE ratio of 13.66 and a beta of 1.13. The company’s 50 day moving average is $74.59 and its 200-day moving average is $74.52.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($1.28). Metropolitan Bank had a net margin of 12.46% and a return on equity of 8.71%. The firm had revenue of $79.84 million during the quarter, compared to analysts’ expectations of $78.28 million. As a group, sell-side analysts predict that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current year.

Metropolitan Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Thursday, October 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, October 30th. Metropolitan Bank’s dividend payout ratio (DPR) is 10.42%.

Insiders Place Their Bets

In other Metropolitan Bank news, CFO Daniel F. Dougherty bought 1,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were bought at an average cost of $71.66 per share, with a total value of $71,660.00. Following the transaction, the chief financial officer directly owned 27,341 shares in the company, valued at approximately $1,959,256.06. This trade represents a 3.80% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nick Rosenberg sold 625 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $80.41, for a total value of $50,256.25. Following the transaction, the executive vice president owned 27,089 shares of the company’s stock, valued at approximately $2,178,226.49. This trade represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have acquired 1,167 shares of company stock worth $83,010 and have sold 6,250 shares worth $467,350. 6.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC increased its position in shares of Metropolitan Bank by 0.3% in the 3rd quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock worth $5,226,000 after purchasing an additional 182 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Metropolitan Bank by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after purchasing an additional 237 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Metropolitan Bank by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 18,247 shares of the company’s stock worth $1,277,000 after purchasing an additional 249 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Metropolitan Bank by 7.7% in the second quarter. Lazard Asset Management LLC now owns 5,671 shares of the company’s stock valued at $396,000 after buying an additional 407 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Metropolitan Bank in the third quarter valued at about $31,000. 79.83% of the stock is currently owned by institutional investors.

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.