Metropolitan Bank (MCB) Downgraded to Sell at ValuEngine

Metropolitan Bank (NYSE:MCB) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research upgraded Metropolitan Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $49.00.

Metropolitan Bank stock traded up $0.35 during trading on Thursday, hitting $37.21. The stock had a trading volume of 26,371 shares, compared to its average volume of 45,712. Metropolitan Bank has a 1 year low of $35.00 and a 1 year high of $55.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The company has a market cap of $302.19 million and a price-to-earnings ratio of 12.16.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Metropolitan Bank had a return on equity of 10.78% and a net margin of 23.70%. The business had revenue of $20.36 million for the quarter, compared to the consensus estimate of $20.57 million. As a group, equities research analysts forecast that Metropolitan Bank will post 3 earnings per share for the current fiscal year.

In related news, CFO Anthony J. Fabiano bought 750 shares of the company’s stock in a transaction on Friday, August 10th. The shares were purchased at an average price of $46.38 per share, for a total transaction of $34,785.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 1,475 shares of company stock worth $65,909. Company insiders own 21.18% of the company’s stock.

Several large investors have recently bought and sold shares of MCB. Bank of America Corp DE lifted its position in shares of Metropolitan Bank by 728.0% during the second quarter. Bank of America Corp DE now owns 2,691 shares of the company’s stock worth $141,000 after acquiring an additional 2,366 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Metropolitan Bank during the second quarter worth $215,000. Joel Isaacson & Co. LLC purchased a new stake in shares of Metropolitan Bank during the second quarter worth $255,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Metropolitan Bank during the first quarter worth $280,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Metropolitan Bank by 42.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 7,400 shares of the company’s stock worth $312,000 after acquiring an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 53.94% of the company’s stock.

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.

Further Reading: Moving Average (MA)

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