Metropolitan Bank (MCB) Set to Announce Earnings on Tuesday

Posted by on Apr 11th, 2023

Metropolitan Bank (NYSE:MCB – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 18th. Analysts expect Metropolitan Bank to post earnings of $1.96 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Metropolitan Bank (NYSE:MCB – Get Rating) last released its earnings results on Friday, January 20th. The company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.18. Metropolitan Bank had a net margin of 20.68% and a return on equity of 16.48%. The company had revenue of $70.25 million for the quarter, compared to the consensus estimate of $69.29 million. On average, analysts expect Metropolitan Bank to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Metropolitan Bank Trading Down 0.5 %

Metropolitan Bank stock opened at $29.31 on Tuesday. Metropolitan Bank has a 52 week low of $13.98 and a 52 week high of $104.84. The company has a market capitalization of $321.24 million, a price-to-earnings ratio of 5.55 and a beta of 1.01. The stock has a 50-day moving average price of $46.87 and a 200 day moving average price of $56.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.19.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, CFO Greg Sigrist bought 1,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were bought at an average price of $35.97 per share, for a total transaction of $35,970.00. Following the transaction, the chief financial officer now owns 13,842 shares of the company’s stock, valued at approximately $497,896.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Scott Lublin sold 2,000 shares of Metropolitan Bank stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $58.01, for a total transaction of $116,020.00. Following the completion of the transaction, the executive vice president now directly owns 36,359 shares of the company’s stock, valued at $2,109,185.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Greg Sigrist bought 1,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were acquired at an average price of $35.97 per share, with a total value of $35,970.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,842 shares in the company, valued at approximately $497,896.74. The disclosure for this purchase can be found here. In the last quarter, insiders bought 22,517 shares of company stock worth $553,701. Company insiders own 6.32% of the company’s stock.

Institutional Trading of Metropolitan Bank

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of Metropolitan Bank by 5,500.0% during the first quarter. PNC Financial Services Group Inc. now owns 392 shares of the company’s stock valued at $40,000 after acquiring an additional 385 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Metropolitan Bank during the third quarter worth about $45,000. Quantbot Technologies LP purchased a new stake in shares of Metropolitan Bank during the first quarter worth about $219,000. Legal & General Group Plc raised its position in shares of Metropolitan Bank by 8.0% in the fourth quarter. Legal & General Group Plc now owns 3,750 shares of the company’s stock valued at $220,000 after buying an additional 277 shares during the last quarter. Finally, Walleye Trading LLC purchased a new position in shares of Metropolitan Bank during the first quarter valued at approximately $222,000. 81.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on MCB shares. Keefe, Bruyette & Woods decreased their price target on shares of Metropolitan Bank from $80.00 to $69.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. TheStreet downgraded Metropolitan Bank from a “b-” rating to a “c+” rating in a report on Wednesday, March 15th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Metropolitan Bank from $63.00 to $37.00 in a research note on Thursday, April 6th.

About Metropolitan Bank

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Metropolitan Bank Holding Corp. engages in the provision of banking solutions. It provides a range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities, and affluent individuals. The company was founded by Mark R. DeFazio in 1999 and is headquartered in New York, NY.

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Earnings History for Metropolitan Bank (NYSE:MCB)

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