Metropolitan Bank (NYSE:MCB) Announces Quarterly Earnings Results

Metropolitan Bank (NYSE:MCB) issued its earnings results on Thursday. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.39, Zacks reports. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%.

Metropolitan Bank Price Performance

NYSE MCB opened at $65.75 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank has a 1-year low of $32.46 and a 1-year high of $69.56. The stock has a market capitalization of $736.40 million, a price-to-earnings ratio of 12.36 and a beta of 1.17. The business’s fifty day moving average price is $61.98 and its 200-day moving average price is $55.86.

Insider Activity at Metropolitan Bank

In other news, EVP Nick Rosenberg sold 1,250 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the sale, the executive vice president now owns 30,193 shares of the company’s stock, valued at $1,967,677.81. The trade was a 3.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Lublin sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $58.77, for a total value of $176,310.00. Following the completion of the transaction, the executive vice president now directly owns 52,253 shares in the company, valued at approximately $3,070,908.81. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,250 shares of company stock worth $313,093. 6.50% of the stock is owned by insiders.

Analyst Ratings Changes

MCB has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price objective on Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Hovde Group boosted their target price on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st.

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.