The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Metropolitan Bank Holding Corp. shares valued at $35,970 were purchased by Sigrist Greg on Mar 17. At $35.97 per share, Sigrist Greg acquired 1,000 shares. The insider’s holdings grew to 13,842 shares worth approximately $0.41 million following the completion of this transaction.
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Also, Gold David J purchased 500 shares, netting a total of over 19,000 in proceeds. Following the buying of shares at $38.00 each, the insider now holds 22,231 shares.
Before that, Reinhardt William had added 1,488 shares to its account. In a trade valued at $50,056, the Director bought Metropolitan Bank Holding Corp. shares for $33.64 each. Upon closing the transaction, the insider’s holdings increased to 1,488 shares, worth approximately $0.48 million.
Analyzing MCB Stock Performance
On Thursday, Metropolitan Bank Holding Corp. [NYSE: MCB] rose 5.78% to $29.26. The stock’s lowest price that day was $27.38, but it reached a high of $29.70 in the same session. During the last five days, there has been a surge of approximately 15.20%. Over the course of the year, Metropolitan Bank Holding Corp. shares have dropped approximately -50.13%. Shares of the company reached a 52-week high of $61.04 on 01/12/23 and a 52-week low of $13.98 on 03/13/23. A 50-day SMA is recorded $29.37, while a 200-day SMA reached $54.66. Nevertheless, trading volume fell to 0.64 million shares from 0.29 million shares the previous day.
Support And Resistance Levels for Metropolitan Bank Holding Corp. (MCB)
According to the 24-hour chart, there is a support level at 27.86, which, if violated, would cause prices to drop to 26.46. In the upper region, resistance lies at 30.18. The next price resistance is at 31.10. RSI (Relative Strength Index) is 55.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.82, which suggests the price will increase in the coming days. Percent R is at 19.52%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Metropolitan Bank Holding Corp. subject to short interest?
Stocks of Metropolitan Bank Holding Corp. saw a sharp rise in short interest on May 14, 2023 jumping by 0.63 million shares to 2.3 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 1.67 million shares. A jump of 27.39% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.3.
Which companies own the most shares of Metropolitan Bank Holding Corp. (MCB)?
According to T. Rowe Price Investment Manageme filings, the company currently owns 916,971 shares, which is about 8.37% of the total MCB shares outstanding. The investor’s shares have appreciated by 261,727 from its previous 13-F filing of 655244.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $27,936,270. BlackRock Fund Advisors acquire a 5.24% interest valued at $24.91 million while The Vanguard Group, Inc. purchased a 26,029 stake. A total of 202,204 shares of Metropolitan Bank Holding Corp. were bought by M3F, Inc. during the quarter, and 32,570 were bought by Dimensional Fund Advisors LP. In its current portfolio, SSgA Funds Management, Inc. holds 372,240 shares valued at $11.95 million.
In terms of Metropolitan Bank Holding Corp. share price expectations, FactSet research, analysts set an average price target of $53.00 in the next 12 months, up nearly 91.61% from the previous closing price of $27.66. Analysts anticipate Metropolitan Bank Holding Corp. stock to reach $62.00 by 2023, with the lowest price target being $44.00. In spite of this, 2 analysts ranked Metropolitan Bank Holding Corp. stock as a Buy at the end of 2023.