Metropolitan Bank (MCB) Scheduled to Post Quarterly Earnings on Thursday

Metropolitan Bank (NYSE:MCB) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $1.51 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). The company had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.47%. During the same quarter in the previous year, the business earned $1.37 EPS. On average, analysts expect Metropolitan Bank to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Metropolitan Bank Stock Performance

Shares of NYSE:MCB opened at $59.09 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $661.39 million, a PE ratio of 9.72 and a beta of 1.13. The firm’s 50 day simple moving average is $50.68 and its 200-day simple moving average is $45.47. Metropolitan Bank has a one year low of $30.52 and a one year high of $60.30.

Analyst Ratings Changes

Several brokerages have recently commented on MCB. JPMorgan Chase & Co. raised their price target on Metropolitan Bank from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $67.50 price target (up previously from $55.00) on shares of Metropolitan Bank in a report on Tuesday, July 23rd. Finally, Hovde Group began coverage on shares of Metropolitan Bank in a research note on Thursday, September 19th. They set an “outperform” rating and a $65.50 price objective on the stock.

Insider Activity at Metropolitan Bank

In other news, EVP Scott Lublin sold 1,005 shares of Metropolitan Bank stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total value of $55,385.55. Following the transaction, the executive vice president now owns 57,077 shares of the company’s stock, valued at $3,145,513.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Metropolitan Bank news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the completion of the sale, the executive vice president now directly owns 31,443 shares in the company, valued at approximately $1,733,767.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Lublin sold 1,005 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total value of $55,385.55. Following the sale, the executive vice president now owns 57,077 shares in the company, valued at $3,145,513.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,241 shares of company stock valued at $2,060,436 over the last quarter. 6.50% of the stock is owned by corporate insiders.

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.