Metropolitan Bank (MCB) Set to Announce Quarterly Earnings on Thursday

Metropolitan Bank (NYSE:MCB) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $1.51 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.47%. The firm had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. During the same quarter last year, the firm earned $1.37 earnings per share. On average, analysts expect Metropolitan Bank to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Metropolitan Bank Stock Up 2.2 %

Shares of MCB opened at $57.29 on Tuesday. The business’s 50 day simple moving average is $50.38 and its 200-day simple moving average is $45.32. Metropolitan Bank has a one year low of $30.52 and a one year high of $57.69. The company has a market capitalization of $641.25 million, a P/E ratio of 9.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.34, for a total value of $1,936,125.24. Following the transaction, the chief executive officer now owns 181,208 shares of the company’s stock, valued at approximately $10,028,050.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mark R. Defazio sold 34,986 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the transaction, the chief executive officer now owns 181,208 shares in the company, valued at approximately $10,028,050.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Lublin sold 1,005 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the completion of the sale, the executive vice president now owns 57,077 shares in the company, valued at approximately $3,145,513.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,241 shares of company stock worth $2,060,436. Insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MCB. JPMorgan Chase & Co. upped their price target on shares of Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $67.50 price objective (up from $55.00) on shares of Metropolitan Bank in a research report on Tuesday, July 23rd. Finally, Hovde Group began coverage on Metropolitan Bank in a research note on Thursday, September 19th. They set an “outperform” rating and a $65.50 price target on the 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.