Shares of Metropolitan Bank Holding Corp (NYSE:MCB) have been assigned a consensus broker rating score of 2.00 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price objective of $50.33 for the company and are anticipating that the company will post $0.61 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Metropolitan Bank an industry rank of 20 out of 265 based on the ratings given to its competitors.
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods assumed coverage on Metropolitan Bank in a report on Monday, December 4th. They issued an “outperform” rating and a $50.00 price target on the stock. ValuEngine upgraded Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded Metropolitan Bank from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a report on Tuesday, February 6th. JPMorgan Chase & Co. started coverage on Metropolitan Bank in a report on Monday, December 4th. They set an “overweight” rating and a $50.00 target price on the stock. Finally, Piper Jaffray Companies started coverage on Metropolitan Bank in a report on Monday, December 4th. They set a “neutral” rating and a $46.00 target price on the stock.
In related news, COO Gerard A. Perri bought 2,000 shares of Metropolitan Bank stock in a transaction on Wednesday, January 31st. The shares were purchased at an average price of $45.43 per share, for a total transaction of $90,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors and hedge funds have recently modified their holdings of MCB. Endicott Management Co. bought a new position in Metropolitan Bank during the fourth quarter worth about $27,013,000. Franklin Resources Inc. bought a new position in Metropolitan Bank during the fourth quarter worth about $11,305,000. Basswood Capital Management L.L.C. bought a new position in Metropolitan Bank during the fourth quarter worth about $8,272,000. Kennedy Capital Management Inc. bought a new position in Metropolitan Bank during the fourth quarter worth about $8,143,000. Finally, BlackRock Inc. bought a new position in Metropolitan Bank during the fourth quarter worth about $6,568,000. Hedge funds and other institutional investors own 4.93% of the company’s stock.
Metropolitan Bank (MCB) traded up $0.19 during trading on Friday, reaching $45.19. The company had a trading volume of 49,660 shares, compared to its average volume of 88,262. Metropolitan Bank has a fifty-two week low of $36.35 and a fifty-two week high of $51.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.75.
Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Monday, January 29th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.53. The firm had revenue of $21.82 million during the quarter, compared to the consensus estimate of $16.87 million. equities analysts predict that Metropolitan Bank will post 2.69 earnings per share for the current fiscal year.
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About Metropolitan Bank
Metropolitan Bank Holding Corp. is a bank holding company. Through its subsidiary, Metropolitan Commercial Bank, the Bank provides a range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals in the New York metropolitan area.
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