Metropolitan Bank (NYSE:MCB) Releases Earnings Results, Beats Estimates By $0.39 EPS

Metropolitan Bank (NYSE:MCB) issued its quarterly earnings data on Thursday. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.39, Zacks reports. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%.

Metropolitan Bank Trading Up 0.7 %

NYSE MCB opened at $60.77 on Friday. Metropolitan Bank has a one year low of $32.46 and a one year high of $69.56. The firm has a 50 day simple moving average of $62.03 and a 200-day simple moving average of $55.66. The firm has a market cap of $680.58 million, a price-to-earnings ratio of 11.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCB. Piper Sandler boosted their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Keefe, Bruyette & Woods boosted their target price on Metropolitan Bank from $73.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Hovde Group upped their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In other Metropolitan Bank news, EVP Scott Lublin sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $58.77, for a total transaction of $176,310.00. Following the sale, the executive vice president now owns 52,253 shares in the company, valued at $3,070,908.81. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $65.17, for a total value of $81,462.50. Following the completion of the sale, the executive vice president now directly owns 30,193 shares in the company, valued at $1,967,677.81. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,250 shares of company stock worth $313,093 in the last ninety days. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank Company Profile

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.