Metropolitan Bank (NYSE:MCB) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Metropolitan Bank (NYSE:MCB) released its earnings results on Tuesday. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.14, MarketWatch Earnings reports. Metropolitan Bank had a net margin of 28.01% and a return on equity of 13.63%.

Shares of MCB stock traded up $5.58 during trading hours on Thursday, hitting $65.73. 281 shares of the company were exchanged, compared to its average volume of 45,254. The stock has a market cap of $548.19 million, a price-to-earnings ratio of 11.18 and a beta of 1.33. Metropolitan Bank has a 1 year low of $25.51 and a 1 year high of $66.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average price is $62.33.

Separately, Zacks Investment Research lowered shares of Metropolitan Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 29th.

In related news, EVP Nick Rosenberg sold 1,005 shares of the stock in a transaction that occurred on Wednesday, June 16th. The shares were sold at an average price of $64.15, for a total transaction of $64,470.75. Also, CFO Greg Sigrist bought 1,600 shares of the company’s stock in a transaction that occurred on Friday, June 18th. The shares were acquired at an average cost of $61.35 per share, with a total value of $98,160.00. The disclosure for this purchase can be found here. Corporate insiders own 15.90% 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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Earnings History for Metropolitan Bank (NYSE:MCB)

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