Brokerages Expect Metropolitan Bank Holding Corp (NYSE:MCB) to Announce $0.93 EPS

Metropolitan Bank Holding Corp (NYSE:MCB) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus price target of $48.00 for the company and are predicting that the company will post $0.93 EPS for the current quarter, according to Zacks. Zacks has also given Metropolitan Bank an industry rank of 148 out of 255 based on the ratings given to related companies.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Metropolitan Bank from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 8th. ValuEngine lowered shares of Metropolitan Bank from a “sell” rating to a “strong sell” rating in a report on Thursday, November 14th.

MCB traded down $0.19 during trading on Tuesday, reaching $46.48. 16,600 shares of the company’s stock were exchanged, compared to its average volume of 18,042. Metropolitan Bank has a one year low of $29.05 and a one year high of $46.95. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $389.70 million, a PE ratio of 15.19 and a beta of 1.40. The firm has a fifty day moving average price of $44.54 and a two-hundred day moving average price of $41.47.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Wednesday, October 23rd. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. Metropolitan Bank had a net margin of 22.55% and a return on equity of 10.28%. The firm had revenue of $28.75 million for the quarter, compared to analyst estimates of $28.35 million. Sell-side analysts expect that Metropolitan Bank will post 3.56 earnings per share for the current year.

In other news, CEO Mark R. Defazio sold 3,243 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $42.94, for a total value of $139,254.42. Corporate insiders own 16.40% of the company’s stock.

Several large investors have recently bought and sold shares of MCB. BlackRock Inc. boosted its stake in Metropolitan Bank by 16.2% during the second quarter. BlackRock Inc. now owns 412,145 shares of the company’s stock worth $18,135,000 after acquiring an additional 57,397 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Metropolitan Bank during the second quarter worth $2,144,000. Banc Funds Co. LLC boosted its stake in Metropolitan Bank by 23.1% during the second quarter. Banc Funds Co. LLC now owns 160,000 shares of the company’s stock worth $7,040,000 after acquiring an additional 30,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Metropolitan Bank by 74.1% during the second quarter. Renaissance Technologies LLC now owns 42,300 shares of the company’s stock worth $1,861,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Metropolitan Bank by 7.0% during the second quarter. Vanguard Group Inc. now owns 266,790 shares of the company’s stock worth $11,739,000 after acquiring an additional 17,407 shares in the last quarter. 53.28% of the stock is currently owned by institutional investors.

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.

Read More: What is the 52-week high/low?

Get a free copy of the Zacks research report on Metropolitan Bank (MCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Metropolitan Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metropolitan Bank and related companies with MarketBeat.com's FREE daily email newsletter.