Metropolitan Bank Holding Corp (NYSE:MCB) has been assigned an average broker rating score of 2.00 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company.
Brokerages have set a 12 month consensus target price of $54.33 for the company and are anticipating that the company will post $0.74 EPS for the current quarter, according to Zacks. Zacks has also given Metropolitan Bank an industry rank of 115 out of 255 based on the ratings given to its competitors.
MCB has been the topic of several research analyst reports. ValuEngine lowered Metropolitan Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered Metropolitan Bank from a “buy” rating to a “strong sell” rating in a research note on Tuesday, July 31st.
In other news, CFO Anthony J. Fabiano purchased 750 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were acquired at an average price of $46.38 per share, with a total value of $34,785.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 21.18% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Metropolitan Bank in the 4th quarter valued at approximately $6,568,000. Millennium Management LLC purchased a new stake in Metropolitan Bank in the 1st quarter valued at approximately $4,337,000. Franklin Resources Inc. lifted its stake in Metropolitan Bank by 26.4% in the 1st quarter. Franklin Resources Inc. now owns 339,525 shares of the company’s stock valued at $14,297,000 after buying an additional 70,991 shares in the last quarter. Cadence Capital Management LLC purchased a new stake in Metropolitan Bank in the 2nd quarter valued at approximately $2,066,000. Finally, Prudential Financial Inc. purchased a new stake in Metropolitan Bank in the 1st quarter valued at approximately $1,615,000. 51.02% of the stock is currently owned by institutional investors and hedge funds.
NYSE MCB traded down $3.19 on Wednesday, hitting $43.25. 49,782 shares of the company’s stock were exchanged, compared to its average volume of 51,826. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.24. Metropolitan Bank has a fifty-two week low of $36.35 and a fifty-two week high of $55.00. The stock has a market capitalization of $380.47 million and a price-to-earnings ratio of 14.13.
Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.11). The firm had revenue of $20.04 million for the quarter, compared to analysts’ expectations of $22.29 million. Metropolitan Bank had a return on equity of 11.52% and a net margin of 21.51%. equities analysts forecast that Metropolitan Bank will post 3.01 earnings per share for the current fiscal year.
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.
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