Metropolitan Bank (NYSE:MCB) Stock Price Expected to Rise, Hovde Group Analyst Says

Metropolitan Bank (NYSE:MCB) had its target price increased by Hovde Group from $75.00 to $83.50 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently weighed in on MCB. Piper Sandler boosted their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Keefe, Bruyette & Woods raised their price target on Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th.

Metropolitan Bank Trading Down 0.7 %

Shares of NYSE MCB opened at $64.21 on Monday. The stock has a market cap of $719.06 million, a P/E ratio of 12.07 and a beta of 1.17. The firm has a 50 day moving average price of $62.03 and a two-hundred day moving average price of $56.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank has a 52-week low of $32.46 and a 52-week high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.39. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. As a group, equities analysts forecast that Metropolitan Bank will post 6.31 EPS for the current year.

Insider Buying and Selling

In other Metropolitan Bank news, EVP Scott Lublin sold 3,000 shares of Metropolitan Bank stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the sale, the executive vice president now owns 52,253 shares of the company’s stock, valued at $3,070,908.81. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $65.17, for a total value of $81,462.50. Following the sale, the executive vice president now owns 30,193 shares in the company, valued at approximately $1,967,677.81. This trade represents a 3.98 % 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.

Hedge Funds Weigh In On Metropolitan Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Salzhauer Michael lifted its holdings in shares of Metropolitan Bank by 15.5% during the 4th quarter. Salzhauer Michael now owns 41,703 shares of the company’s stock valued at $2,435,000 after purchasing an additional 5,598 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Metropolitan Bank by 4.9% in the fourth quarter. Empowered Funds LLC now owns 40,142 shares of the company’s stock worth $2,344,000 after acquiring an additional 1,890 shares during the period. Sippican Capital Advisors raised its stake in shares of Metropolitan Bank by 41.2% during the 4th quarter. Sippican Capital Advisors now owns 18,296 shares of the company’s stock valued at $1,068,000 after buying an additional 5,342 shares during the last quarter. R Squared Ltd acquired a new position in Metropolitan Bank in the fourth quarter valued at approximately $91,000. Finally, PFG Investments LLC purchased a new stake in Metropolitan Bank during the fourth quarter worth $302,000. Institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

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.