Metropolitan Bank (NYSE:MCB) PT Raised to $68.00 at Hovde Group

Metropolitan Bank (NYSE:MCB) had its price target raised by Hovde Group from $65.50 to $68.00 in a research note published on Monday morning, Marketbeat.com reports. Hovde Group currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd.

Metropolitan Bank Stock Down 1.5 %

Shares of NYSE MCB opened at $54.12 on Monday. The stock has a market cap of $605.77 million, a PE ratio of 8.90 and a beta of 1.13. The business has a fifty day moving average of $52.54 and a two-hundred day moving average of $46.40. Metropolitan Bank has a 52-week low of $30.72 and a 52-week high of $64.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.

Insider Activity

In other news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the sale, the senior vice president now owns 11,732 shares of the company’s stock, valued at approximately $679,517.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Metropolitan Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Metropolitan Bank in the second quarter worth about $27,000. CWM LLC increased its position in Metropolitan Bank by 70.1% in the second quarter. CWM LLC now owns 784 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Metropolitan Bank in the second quarter worth about $74,000. Allspring Global Investments Holdings LLC acquired a new stake in Metropolitan Bank in the first quarter worth about $103,000. Finally, Point72 Asset Management L.P. increased its position in Metropolitan Bank by 104.5% in the second quarter. Point72 Asset Management L.P. now owns 4,500 shares of the company’s stock worth $189,000 after purchasing an additional 2,300 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.

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.