ValuEngine Lowers Metropolitan Bank (MCB) to Sell

ValuEngine lowered shares of Metropolitan Bank (NYSE:MCB) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Separately, Zacks Investment Research upgraded Metropolitan Bank from a sell rating to a hold rating in a report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $49.00.

Metropolitan Bank stock traded up $0.84 during mid-day trading on Thursday, hitting $38.05. The stock had a trading volume of 17,429 shares, compared to its average volume of 24,774. The stock has a market cap of $312.28 million and a price-to-earnings ratio of 11.39. Metropolitan Bank has a 12 month low of $35.00 and a 12 month high of $55.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.35.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $20.36 million for the quarter, compared to analysts’ expectations of $20.57 million. Metropolitan Bank had a return on equity of 10.78% and a net margin of 23.70%. As a group, sell-side analysts expect that Metropolitan Bank will post 3.05 EPS for the current year.

In other news, CFO Anthony J. Fabiano purchased 750 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were acquired at an average price of $46.38 per share, for a total transaction of $34,785.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 1,475 shares of company stock worth $65,909. 21.18% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. boosted its holdings in Metropolitan Bank by 0.6% in the second quarter. Wasatch Advisors Inc. now owns 212,871 shares of the company’s stock valued at $11,171,000 after acquiring an additional 1,249 shares during the last quarter. Northern Trust Corp lifted its stake in Metropolitan Bank by 3.7% in the first quarter. Northern Trust Corp now owns 38,093 shares of the company’s stock valued at $1,604,000 after buying an additional 1,342 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Metropolitan Bank by 42.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,400 shares of the company’s stock valued at $312,000 after buying an additional 2,200 shares during the period. Bank of America Corp DE lifted its stake in Metropolitan Bank by 728.0% in the second quarter. Bank of America Corp DE now owns 2,691 shares of the company’s stock valued at $141,000 after buying an additional 2,366 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Metropolitan Bank by 6.5% in the third quarter. Acadian Asset Management LLC now owns 39,040 shares of the company’s stock valued at $1,605,000 after buying an additional 2,368 shares during the period. Institutional investors and hedge funds 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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