Nick Rosenberg, Executive Vice President at Metropolitan Bank Holding Corp. (NASDAQ: MCB), has completed two distinct sales of the company's common stock this week, moving a total of 353 shares for approximately $35,308. The transactions were executed on June 26 and June 29, 2026, respectively. The shares were sold at weighted average prices ranging from $100.0144 to $100.055 per share, positioning the dispositions near the stock's 52-week high of $100. These sales were conducted pursuant to a Rule 10b5-1 trading arrangement that Rosenberg adopted on June 6, 2025. The timing of these dispositions is notable given MCB's recent performance, which includes a 43% gain over the past year and a 31% increase over the last six months. According to InvestingPro analysis, the stock appears undervalued at current levels despite trading near its peak.
On June 26, Rosenberg disposed of 263 shares of common stock. The weighted average price for this transaction was $100.0144 per share, with individual sales occurring at prices ranging from $100.0000 to $100.1650. Subsequently, on June 29, an additional 90 shares were sold at a price of $100.0550 per share. Following these transactions, Rosenberg directly holds 24,099 shares of Metropolitan Bank Holding Corp. common stock. This total includes restricted stock units granted on March 1, 2024, March 1, 2025, and March 2, 2026, which are set to vest at a rate of 33.3% per year commencing one year after their respective grant dates. Additionally, Rosenberg indirectly holds 520 shares of common stock through holdings by his children.
Metropolitan Bank Holding Corp. recently reported impressive financial results for the first quarter of 2026, surpassing earnings expectations. The company achieved an earnings per share of $2.92, representing a 22.69% increase over the anticipated $2.38. Revenue also exceeded forecasts, reaching $88.49 million compared to the projected $87.35 million. In another development, the board of directors approved a $50 million share repurchase program, allowing the company to buy back its common stock on the open market or through other means. This initiative will be funded with available cash, as stated in a filing with the Securities and Exchange Commission.
Additionally, Metropolitan Bank Holding Corp. announced the retirement of William Reinhardt from its board of directors. Following his retirement, he has been named director emeritus, a ceremonial role without active duties. In a strategic move to expand its presence, Metropolitan Commercial Bank appointed Robert Hasler as Senior Vice President and Managing Director of Specialty Deposits. Hasler will spearhead the bank's expansion into Western U.S. markets, focusing on growing the specialty deposit business. These recent developments reflect the company's ongoing strategic initiatives and leadership changes.