Wall Street brokerages expect that Metropolitan Bank Holding Corp (NYSE:MCB) will announce $21.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Metropolitan Bank’s earnings, with estimates ranging from $20.90 million to $21.14 million. Metropolitan Bank reported sales of $21.82 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The business is scheduled to issue its next earnings results on Monday, February 4th.
According to Zacks, analysts expect that Metropolitan Bank will report full year sales of $83.31 million for the current fiscal year, with estimates ranging from $83.20 million to $83.41 million. For the next financial year, analysts forecast that the firm will post sales of $94.26 million, with estimates ranging from $93.40 million to $95.12 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Metropolitan Bank.
Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $20.36 million for the quarter, compared to analysts’ expectations of $20.57 million. Metropolitan Bank had a net margin of 23.70% and a return on equity of 10.63%.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Metropolitan Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. ValuEngine cut shares of Metropolitan Bank from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st.
A number of hedge funds have recently made changes to their positions in MCB. BlackRock Inc. lifted its position in Metropolitan Bank by 80.2% during the second quarter. BlackRock Inc. now owns 322,743 shares of the company’s stock valued at $16,937,000 after buying an additional 143,604 shares in the last quarter. Cadence Capital Management LLC acquired a new position in Metropolitan Bank during the second quarter valued at approximately $2,066,000. Vanguard Group Inc. lifted its position in shares of Metropolitan Bank by 15.5% during the third quarter. Vanguard Group Inc. now owns 216,318 shares of the company’s stock worth $8,895,000 after purchasing an additional 29,023 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Metropolitan Bank by 359.4% during the second quarter. Acadian Asset Management LLC now owns 36,672 shares of the company’s stock worth $1,925,000 after purchasing an additional 28,690 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Metropolitan Bank by 73.6% during the second quarter. Northern Trust Corp now owns 66,131 shares of the company’s stock worth $3,470,000 after purchasing an additional 28,038 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.
MCB stock traded down $0.52 during midday trading on Monday, reaching $33.99. 11,703 shares of the company’s stock traded hands, compared to its average volume of 12,326. The stock has a market cap of $283.23 million and a price-to-earnings ratio of 11.11. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.33. Metropolitan Bank has a fifty-two week low of $33.23 and a fifty-two week high of $55.00.
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.
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