Hovde Group Boosts Metropolitan Bank (NYSE:MCB) Price Target to $68.00

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

MCB has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd.

Metropolitan Bank Stock Down 1.2 %

Metropolitan Bank stock opened at $54.97 on Monday. Metropolitan Bank has a fifty-two week low of $30.72 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $615.28 million, a price-to-earnings ratio of 9.04 and a beta of 1.13. The company’s 50 day simple moving average is $52.38 and its 200 day simple moving average is $46.34.

Insiders Place Their Bets

In other Metropolitan Bank news, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.92, for a total value of $85,316.16. Following the transaction, the senior vice president now directly owns 11,732 shares of the company’s stock, valued at $679,517.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $55.14, for a total value of $68,925.00. Following the sale, the executive vice president now owns 31,443 shares in the company, valued at $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 at this link. Also, SVP Norman Scott sold 1,473 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the sale, the senior vice president now directly owns 11,732 shares in the company, valued at approximately $679,517.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

A number of institutional investors have recently added to or reduced their stakes in MCB. Assenagon Asset Management S.A. increased its stake in shares of Metropolitan Bank by 112.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock valued at $4,690,000 after buying an additional 47,193 shares during the period. Creative Planning acquired a new stake in Metropolitan Bank during the 3rd quarter valued at approximately $276,000. Unison Advisors LLC bought a new position in Metropolitan Bank during the 3rd quarter worth approximately $710,000. CWM LLC lifted its position in shares of Metropolitan Bank by 127.0% in the 3rd quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after purchasing an additional 996 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Metropolitan Bank by 32.1% in the 3rd quarter. SG Americas Securities LLC now owns 8,561 shares of the company’s stock valued at $450,000 after purchasing an additional 2,080 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

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.