Metropolitan Bank Holding Corp. (NYSE:MCB) Receives $95.00 Consensus Target Price from Brokerages

Metropolitan Bank Holding Corp. (NYSE:MCBGet Free Report) has been assigned a consensus rating of “Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $95.00.

A number of equities analysts recently commented on MCB shares. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. UBS Group assumed coverage on Metropolitan Bank in a research report on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Metropolitan Bank from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd.

Get Our Latest Stock Analysis on MCB

Insider Activity

In other news, Director Harvey Gutman sold 3,000 shares of Metropolitan Bank stock in a transaction on Friday, May 29th. The shares were sold at an average price of $89.58, for a total value of $268,740.00. Following the completion of the sale, the director owned 18,243 shares in the company, valued at $1,634,207.94. The trade was a 14.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert C. Patent sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $90.21, for a total transaction of $451,050.00. Following the completion of the sale, the director owned 96,185 shares of the company’s stock, valued at $8,676,848.85. The trade was a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Advisers LLC bought a new stake in Metropolitan Bank in the first quarter valued at $25,000. Royal Bank of Canada increased its stake in Metropolitan Bank by 70.4% in the fourth quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after purchasing an additional 143 shares in the last quarter. Quarry LP bought a new stake in Metropolitan Bank in the third quarter valued at $48,000. Kestra Advisory Services LLC bought a new stake in Metropolitan Bank in the fourth quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its stake in Metropolitan Bank by 41.5% in the second 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. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Price Performance

Metropolitan Bank stock opened at $95.86 on Friday. The stock’s 50 day moving average is $89.19 and its 200 day moving average is $85.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $1.19 billion, a P/E ratio of 11.80 and a beta of 1.01. Metropolitan Bank has a one year low of $63.81 and a one year high of $97.84.

Metropolitan Bank (NYSE:MCBGet Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.73. The company had revenue of $88.49 million for the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Metropolitan Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were given a $0.25 dividend. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Metropolitan Bank’s dividend payout ratio is 12.32%.

Metropolitan Bank Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Metropolitan Bank (NYSE:MCB)

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