Metropolitan Bank (NYSE:MCB) Price Target Raised to $109.00 at Keefe, Bruyette & Woods

Metropolitan Bank (NYSE:MCB) had its price objective hoisted by Keefe, Bruyette & Woods from $105.00 to $109.00 in a research note released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. UBS Group began coverage on Metropolitan Bank in a research note on Thursday, April 16th. They issued a “neutral” rating and a $97.00 target price for the company. Zacks Research raised Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings raised Metropolitan Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $95.00.

Metropolitan Bank Stock Up 2.1%

MCB opened at $89.49 on Thursday. The business has a 50 day simple moving average of $85.63 and a 200-day simple moving average of $80.85. The stock has a market capitalization of $1.11 billion, a P/E ratio of 11.02 and a beta of 1.13. Metropolitan Bank has a 12 month low of $59.09 and a 12 month high of $97.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.96 and a quick ratio of 0.96.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.73. The firm had revenue of $88.49 million during the quarter, compared to analysts’ expectations of $87.33 million. Metropolitan Bank had a return on equity of 11.76% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 12th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 1st. This is an increase from Metropolitan Bank’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.1%. Metropolitan Bank’s payout ratio is currently 9.85%.

Institutional Trading of Metropolitan Bank

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Metropolitan Bank by 70.4% during the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock worth $27,000 after purchasing an additional 143 shares during the period. State of Alaska Department of Revenue bought a new position in Metropolitan Bank in the 3rd quarter worth approximately $31,000. Quarry LP bought a new position in Metropolitan Bank in the 3rd quarter worth approximately $48,000. Kestra Advisory Services LLC bought a new position in Metropolitan Bank in the 4th quarter worth approximately $51,000. Finally, Tower Research Capital LLC TRC boosted its stake in Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock valued at $117,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.