Metropolitan Bank Holding Corp (NYSE:MCB) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a twelve-month consensus price objective of $45.75 for the company and are predicting that the company will post $0.90 EPS for the current quarter, according to Zacks. Zacks has also assigned Metropolitan Bank an industry rank of 189 out of 256 based on the ratings given to its competitors.
Several brokerages have commented on MCB. Zacks Investment Research upgraded shares of Metropolitan Bank from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Thursday, May 2nd. TheStreet upgraded shares of Metropolitan Bank from a “d+” rating to a “c-” rating in a report on Monday, April 29th.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Metropolitan Bank by 528.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,358 shares of the company’s stock valued at $47,000 after purchasing an additional 1,142 shares during the last quarter. SEI Investments Co lifted its holdings in shares of Metropolitan Bank by 95.5% during the first quarter. SEI Investments Co now owns 1,863 shares of the company’s stock valued at $59,000 after purchasing an additional 910 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Metropolitan Bank by 356.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,314 shares of the company’s stock valued at $71,000 after purchasing an additional 1,807 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Metropolitan Bank during the first quarter valued at approximately $99,000. Finally, Bank of America Corp DE lifted its holdings in shares of Metropolitan Bank by 46.0% during the fourth quarter. Bank of America Corp DE now owns 6,103 shares of the company’s stock valued at $189,000 after purchasing an additional 1,923 shares during the last quarter. Hedge funds and other institutional investors own 52.24% of the company’s stock.
MCB traded down $0.25 on Friday, hitting $41.00. The company had a trading volume of 14,740 shares, compared to its average volume of 19,599. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.23 and a quick ratio of 1.25. Metropolitan Bank has a 52-week low of $29.05 and a 52-week high of $55.00. The firm has a market capitalization of $341.15 million, a PE ratio of 13.40 and a beta of 1.44.
Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.26. Metropolitan Bank had a net margin of 27.33% and a return on equity of 10.62%. The business had revenue of $23.29 million during the quarter, compared to analyst estimates of $22.76 million. Analysts expect that Metropolitan Bank will post 3.79 EPS 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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