Metropolitan Bank (NYSE:MCB – Get Free Report) had its price objective hoisted by equities research analysts at Hovde Group from $75.00 to $79.00 in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Hovde Group’s price target points to a potential upside of 22.48% from the company’s previous close.
Metropolitan Bank Stock Performance
Shares of NYSE MCB opened at $64.50 on Monday. The stock has a market cap of $687.57 million, a PE ratio of 10.91 and a beta of 1.08. Metropolitan Bank has a 1 year low of $38.56 and a 1 year high of $69.56. The firm has a fifty day moving average price of $62.14 and a 200-day moving average price of $60.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 0.98.
Metropolitan Bank (NYSE:MCB – Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.16). The business had revenue of $70.59 million for the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 10.53%. During the same period in the prior year, the business earned $1.46 earnings per share. Equities analysts anticipate that Metropolitan Bank will post 7.31 earnings per share for the current fiscal year.
Insider Buying and Selling
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in shares of Metropolitan Bank in the 1st quarter valued at approximately $218,000. Empowered Funds LLC boosted its stake in Metropolitan Bank by 5.3% during the first quarter. Empowered Funds LLC now owns 42,268 shares of the company’s stock worth $2,367,000 after buying an additional 2,126 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in Metropolitan Bank during the first quarter worth $12,602,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Metropolitan Bank by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock valued at $350,000 after acquiring an additional 237 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of Metropolitan Bank by 3.4% in the first quarter. Bridgeway Capital Management LLC now owns 65,568 shares of the company’s stock valued at $3,671,000 after acquiring an additional 2,126 shares during the period. Hedge funds and other institutional investors own 79.83% 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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