Zacks: Metropolitan Bank Holding Corp (MCB) Receives Average Rating of “Buy” from Brokerages

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Shares of Metropolitan Bank Holding Corp (NYSE:MCB) have received a consensus broker rating score of 2.00 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a 12 month consensus price objective of $50.67 for the company and are predicting that the company will post $0.81 earnings per share for the current quarter, according to Zacks. Zacks has also given Metropolitan Bank an industry rank of 154 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded shares of Metropolitan Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th.

Shares of NYSE MCB opened at $36.86 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $302.19 million and a P/E ratio of 12.05. Metropolitan Bank has a 12-month low of $35.00 and a 12-month high of $55.00.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $20.36 million during the quarter, compared to analyst estimates of $20.57 million. Metropolitan Bank had a net margin of 23.70% and a return on equity of 10.78%. Equities research analysts anticipate that Metropolitan Bank will post 3 EPS for the current year.

In related news, CFO Anthony J. Fabiano purchased 750 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were purchased at an average cost of $46.38 per share, for a total transaction of $34,785.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 1,475 shares of company stock worth $65,909. Company insiders own 21.18% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in shares of Metropolitan Bank in the second quarter worth about $412,000. Northern Trust Corp grew its holdings in shares of Metropolitan Bank by 3.7% in the first quarter. Northern Trust Corp now owns 38,093 shares of the company’s stock worth $1,604,000 after purchasing an additional 1,342 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of Metropolitan Bank in the second quarter worth about $1,273,000. RE Advisers Corp grew its holdings in shares of Metropolitan Bank by 3.3% in the second quarter. RE Advisers Corp now owns 311,330 shares of the company’s stock worth $16,339,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in shares of Metropolitan Bank in the second quarter worth about $318,000. Hedge funds and other institutional investors own 53.94% of the company’s stock.

Metropolitan Bank Company Profile

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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