Metropolitan Bank (MCB) Stock Rating Lowered by ValuEngine

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

Separately, Zacks Investment Research raised shares of Metropolitan Bank from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. One research 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. Metropolitan Bank presently has an average rating of “Hold” and a consensus target price of $49.00.

Shares of NYSE:MCB traded up $0.84 on Thursday, reaching $38.05. The company’s stock had a trading volume of 17,429 shares, compared to its average volume of 24,774. Metropolitan Bank has a 52-week low of $35.00 and a 52-week high of $55.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $312.28 million and a price-to-earnings ratio of 11.39.

Metropolitan Bank (NYSE:MCB) last announced its earnings results on Thursday, October 25th. The company reported $0.85 EPS 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 10.78%. The business had revenue of $20.36 million during the quarter, compared to analysts’ expectations of $20.57 million. As a group, research analysts forecast that Metropolitan Bank will post 3.05 EPS for the current fiscal year.

In other Metropolitan Bank news, CFO Anthony J. Fabiano bought 750 shares of Metropolitan Bank stock in a transaction dated Friday, August 10th. The stock was acquired at an average cost of $46.38 per share, with a total value of $34,785.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 1,475 shares of company stock valued at $65,909 over the last ninety days. Corporate insiders own 21.18% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in 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 purchasing an additional 2,366 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Metropolitan Bank during the second quarter worth about $215,000. Joel Isaacson & Co. LLC purchased a new position in Metropolitan Bank during the second quarter worth about $255,000. Dynamic Technology Lab Private Ltd purchased a new position in Metropolitan Bank during the first quarter worth about $280,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in 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 purchasing an additional 2,200 shares in the last quarter. 53.94% of the stock is owned by hedge funds and other institutional investors.

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.

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