Metropolitan Bank Holding Corp. (NYSE:MCB) Receives Consensus Recommendation of “Buy” from Analysts

Metropolitan Bank Holding Corp. (NYSE:MCB) has received an average recommendation of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $95.00.

Several research firms have recently weighed in on MCB. Weiss Ratings raised shares of Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods lifted their target price on shares of Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Wall Street Zen raised shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, UBS Group began coverage on shares of Metropolitan Bank in a report on Thursday, April 16th. They set a “neutral” rating and a $97.00 target price for the company.

Insider Transactions at Metropolitan Bank

In related news, Director Harvey Gutman sold 3,000 shares of Metropolitan Bank stock in a transaction on Friday, May 29th. The shares were sold at an average price of $89.58, for a total value of $268,740.00. Following the sale, the director owned 18,243 shares of the company’s stock, valued at approximately $1,634,207.94. This trade represents a 14.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

Institutional investors have recently added to or reduced their stakes in the stock. Emerald Advisers LLC acquired a new stake in Metropolitan Bank in the 1st quarter valued at $25,000. Royal Bank of Canada grew its stake in Metropolitan Bank by 70.4% in the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 143 shares during the period. Quarry LP acquired a new stake in Metropolitan Bank in the 3rd quarter valued at $48,000. Kestra Advisory Services LLC acquired a new stake in Metropolitan Bank in the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC grew its stake in Metropolitan Bank by 41.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

Metropolitan Bank Price Performance

NYSE:MCB opened at $90.39 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 11.13 and a beta of 1.01. The company has a 50 day moving average price of $88.05 and a 200-day moving average price of $84.54. Metropolitan Bank has a 1-year low of $63.17 and a 1-year high of $97.84.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.73. The firm had revenue of $88.49 million during the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a net margin of 15.89% and a return on equity of 10.95%.

Metropolitan Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Investors of record on Friday, May 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s dividend payout ratio is 12.32%.

Metropolitan Bank Company Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.