Metropolitan Bank Holding Corp (NYSE:MCB) – Research analysts at Piper Jaffray Companies upped their Q2 2019 earnings estimates for shares of Metropolitan Bank in a research report issued on Monday, May 6th. Piper Jaffray Companies analyst M. Breese now anticipates that the company will post earnings of $0.87 per share for the quarter, up from their prior estimate of $0.83. Piper Jaffray Companies also issued estimates for Metropolitan Bank’s Q3 2019 earnings at $0.91 EPS, Q4 2019 earnings at $0.95 EPS, FY2019 earnings at $3.74 EPS, Q1 2020 earnings at $1.03 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $1.15 EPS, Q4 2020 earnings at $1.23 EPS and FY2020 earnings at $4.50 EPS.
Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.26. The company had revenue of $23.29 million during the quarter, compared to analyst estimates of $22.76 million. Metropolitan Bank had a net margin of 27.33% and a return on equity of 10.79%.
Several other equities research analysts also recently commented on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Metropolitan Bank in a report on Thursday, January 10th. Zacks Investment Research raised shares of Metropolitan Bank from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, TheStreet raised shares of Metropolitan Bank from a “d+” rating to a “c-” rating in a report on Monday, April 29th.
NYSE MCB opened at $41.61 on Wednesday. The stock has a market cap of $348.64 million, a price-to-earnings ratio of 13.56 and a beta of 1.44. Metropolitan Bank has a 52 week low of $29.05 and a 52 week high of $55.00. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.79.
In other Metropolitan Bank news, COO Gerard A. Perri sold 2,625 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $41.15, for a total transaction of $108,018.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 16.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. lifted its holdings in Metropolitan Bank by 25.7% during the fourth quarter. Basswood Capital Management L.L.C. now owns 403,221 shares of the company’s stock valued at $12,439,000 after purchasing an additional 82,397 shares during the last quarter. BlackRock Inc. lifted its holdings in Metropolitan Bank by 2.2% during the fourth quarter. BlackRock Inc. now owns 335,899 shares of the company’s stock valued at $10,363,000 after purchasing an additional 7,206 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in Metropolitan Bank by 10.3% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 229,276 shares of the company’s stock valued at $7,073,000 after purchasing an additional 21,395 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Metropolitan Bank by 15.5% in the third quarter. Vanguard Group Inc. now owns 216,318 shares of the company’s stock worth $8,895,000 after buying an additional 29,023 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of Metropolitan Bank by 15.5% in the third quarter. Vanguard Group Inc now owns 216,318 shares of the company’s stock worth $8,895,000 after buying an additional 29,023 shares in the last quarter. 52.23% of the stock is currently owned by institutional investors and hedge funds.
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.