Metropolitan Bank Holding Corp (MCB) Given $43.00 Consensus Price Target by Brokerages

Shares of Metropolitan Bank Holding Corp (NYSE:MCB) have been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Brokers have set a 12-month consensus target price of $43.00 for the company and are forecasting that the company will post $0.77 earnings per share for the current quarter, according to Zacks. Zacks has also given Metropolitan Bank an industry rank of 168 out of 256 based on the ratings given to related companies.

A number of research analysts have commented on MCB shares. Zacks Investment Research raised shares of Metropolitan Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine downgraded shares of Metropolitan Bank from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Canaccord Genuity reissued a “hold” rating on shares of Metropolitan Bank in a research report on Thursday, January 10th.

MCB traded up $0.94 on Friday, reaching $34.64. 1,069 shares of the company traded hands, compared to its average volume of 23,170. Metropolitan Bank has a one year low of $29.05 and a one year high of $55.00. The firm has a market capitalization of $273.79 million, a price-to-earnings ratio of 11.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.18 and a quick ratio of 1.18.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings data 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. Metropolitan Bank had a net margin of 23.70% and a return on equity of 10.63%. The company had revenue of $20.36 million during the quarter, compared to analyst estimates of $20.57 million. On average, equities analysts anticipate that Metropolitan Bank will post 3.07 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of Metropolitan Bank by 73.6% in the 2nd quarter. Northern Trust Corp now owns 66,131 shares of the company’s stock worth $3,470,000 after buying an additional 28,038 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Metropolitan Bank by 63.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 12,100 shares of the company’s stock worth $636,000 after buying an additional 4,700 shares during the last quarter. Cadence Capital Management LLC grew its position in shares of Metropolitan Bank by 20.2% in the 3rd quarter. Cadence Capital Management LLC now owns 47,305 shares of the company’s stock worth $1,945,000 after buying an additional 7,945 shares during the last quarter. Rhumbline Advisers purchased a new stake in Metropolitan Bank during the 2nd quarter worth approximately $318,000. Finally, Russell Investments Group Ltd. purchased a new stake in Metropolitan Bank during the 2nd quarter worth approximately $215,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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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