Metropolitan Bank (NYSE:MCB) Rating Increased to Hold at ValuEngine

Metropolitan Bank (NYSE:MCB) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Metropolitan Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday.

NYSE:MCB opened at $39.80 on Thursday. The company has a market capitalization of $318.65 million, a PE ratio of 13.01 and a beta of 1.36. The company has a 50 day simple moving average of $38.70 and a two-hundred day simple moving average of $39.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.14. Metropolitan Bank has a fifty-two week low of $29.05 and a fifty-two week high of $44.99.

Metropolitan Bank (NYSE:MCB) last released its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.18). The firm had revenue of $25.61 million for the quarter, compared to analyst estimates of $26.00 million. Metropolitan Bank had a net margin of 24.86% and a return on equity of 10.37%. Research analysts predict that Metropolitan Bank will post 3.34 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in MCB. BlackRock Inc. increased its position in Metropolitan Bank by 16.2% during the 2nd quarter. BlackRock Inc. now owns 412,145 shares of the company’s stock valued at $18,135,000 after purchasing an additional 57,397 shares during the period. Nuveen Asset Management LLC acquired a new stake in Metropolitan Bank during the 2nd quarter valued at approximately $2,144,000. Banc Funds Co. LLC increased its position in Metropolitan Bank by 23.1% during the 2nd quarter. Banc Funds Co. LLC now owns 160,000 shares of the company’s stock valued at $7,040,000 after purchasing an additional 30,000 shares during the period. Renaissance Technologies LLC increased its position in Metropolitan Bank by 74.1% during the 2nd quarter. Renaissance Technologies LLC now owns 42,300 shares of the company’s stock valued at $1,861,000 after purchasing an additional 18,000 shares during the period. Finally, Vanguard Group Inc. increased its position in Metropolitan Bank by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 266,790 shares of the company’s stock valued at $11,739,000 after purchasing an additional 17,407 shares during the period. 52.21% of the stock is owned by institutional investors and hedge funds.

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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