Equities analysts predict that Metropolitan Bank Holding Corp (NYSE:MCB) will report $21.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Metropolitan Bank’s earnings. The highest sales estimate is $21.14 million and the lowest is $20.90 million. Metropolitan Bank reported sales of $21.82 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The business is scheduled to report its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Metropolitan Bank will report full year sales of $83.31 million for the current fiscal year, with estimates ranging from $83.20 million to $83.41 million. For the next fiscal year, analysts anticipate that the firm will post sales of $94.26 million, with estimates ranging from $93.40 million to $95.12 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Metropolitan Bank.
Metropolitan Bank (NYSE:MCB) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $20.36 million for the quarter, compared to the consensus estimate of $20.57 million. Metropolitan Bank had a return on equity of 10.78% and a net margin of 23.70%.
Several research analysts have commented on the company. ValuEngine downgraded Metropolitan Bank from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded Metropolitan Bank from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.00.
MCB opened at $38.76 on Friday. The firm has a market cap of $322.38 million and a price-to-earnings ratio of 12.67. Metropolitan Bank has a 52 week low of $35.00 and a 52 week high of $55.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. increased its holdings in Metropolitan Bank by 0.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 212,871 shares of the company’s stock worth $11,171,000 after purchasing an additional 1,249 shares during the period. Northern Trust Corp boosted its position in Metropolitan Bank by 3.7% during the 1st quarter. Northern Trust Corp now owns 38,093 shares of the company’s stock valued at $1,604,000 after acquiring an additional 1,342 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Metropolitan Bank by 16.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,536 shares of the company’s stock valued at $556,000 after acquiring an additional 1,912 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Metropolitan Bank by 11.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 22,029 shares of the company’s stock valued at $906,000 after acquiring an additional 2,331 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Metropolitan Bank by 728.0% during the 2nd quarter. Bank of America Corp DE now owns 2,691 shares of the company’s stock valued at $141,000 after acquiring an additional 2,366 shares in the last quarter. Institutional investors own 54.07% of the company’s stock.
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.
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