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

Metropolitan Bank Holding Corp. (NYSE:MCB) CFO Daniel Dougherty acquired 1,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $89.98 per share, for a total transaction of $89,980.00. Following the transaction, the chief financial officer owned 33,197 shares of the company’s stock, valued at $2,987,066.06. This trade represents a 3.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Metropolitan Bank Stock Performance

Shares of NYSE:MCB traded up $0.78 during midday trading on Tuesday, hitting $92.00. The company had a trading volume of 79,066 shares, compared to its average volume of 160,206. The company has a fifty day moving average of $94.56 and a two-hundred day moving average of $89.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 11.65 and a beta of 1.00. Metropolitan Bank Holding Corp. has a 12-month low of $64.66 and a 12-month high of $102.04.

Metropolitan Bank (NYSE:MCB) last issued its 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 firm had revenue of $93.01 million during the quarter, compared to the consensus estimate of $93.39 million. Metropolitan Bank had a return on equity of 10.72% and a net margin of 14.31%.

Metropolitan Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be given a dividend of $0.35 per share. The ex-dividend date is Friday, July 31st. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. Metropolitan Bank’s dividend payout ratio (DPR) is 17.72%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Metropolitan Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC purchased a new stake in shares of Metropolitan Bank during the first quarter valued at $1,473,000. Bank of America Corp DE grew its position in shares of Metropolitan Bank by 611.9% during the 1st quarter. Bank of America Corp DE now owns 141,613 shares of the company’s stock worth $11,795,000 after buying an additional 121,721 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Metropolitan Bank by 272.0% in the first 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 in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Metropolitan Bank by 26.0% in the 1st 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 raised its position in shares of Metropolitan Bank by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock worth $502,000 after acquiring an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

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.