Insider Buying at Metropolitan Bank Holding Corp.

On October 24, 2023, Chaya Pamula, a director at Metropolitan Bank Holding Corp. (NYSE: MCB), made a notable investment by purchasing 450 shares of the company's stock. The shares were bought at an average price of $54.29 each, resulting in a total transaction value of approximately $24,430.50. Following this acquisition, Pamula's total ownership increased to 6,513 shares, which are currently valued around $353,590.77. This transaction showed a minimal incremental change in ownership, reflecting a 0.00% increase.

Details of the transaction were officially reported through a filing with the Securities & Exchange Commission.

Metropolitan Bank Stock Performance

After the purchase, MCB shares dropped $1.34 to $52.78 on Friday, with a trading volume of 36,275 shares, significantly lower than the average volume of 94,463. The stock has a 50-day moving average of $52.64 and a 200-day moving average of $46.51. Financial ratios for Metropolitan Bank show a quick ratio of 0.99, a current ratio of 0.99, and a debt-to-equity ratio of 0.37. The market capitalization for the bank stands at $590.61 million, with a price-to-earnings (PE) ratio of 9.92 and a beta of 1.13. In the past year, MCB's stock has reached a low of $31.35 and a high of $64.10.

Recent Analyst Ratings

Several analysts have provided updates on MCB shares recently. JPMorgan Chase & Co. raised their target price from $55.00 to $70.00 and assigned a rating of "overweight" on July 23rd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating, increasing their target price to $67.50. Meanwhile, Hovde Group also raised their price target from $65.50 to $68.00, maintaining an "outperform" rating.

Institutional Trading Activity

In recent months, various institutional investors and hedge funds have adjusted their positions in Metropolitan Bank. Point72 DIFC Ltd entered a new stake valued at around $27,000, and CWM LLC increased its stake by 70.1%, now holding 784 shares worth $33,000. Additional investors like DekaBank Deutsche Girozentrale and Allspring Global Investments Holdings LLC have made similar adjustments, contributing to a sizeable 79.83% of the stock being owned by institutional investors.

Company Overview

Metropolitan Bank Holding Corp. serves as the bank holding company for Metropolitan Commercial Bank, offering a variety of business, commercial, and retail banking services to small businesses, middle-market enterprises, public sector entities, and individual customers throughout the New York metropolitan area.

insider, buying, investments