Metropolitan Bank (NYSE:MCB) Stock Rating Upgraded by Wall Street Zen
by Sarita Garza · The Markets DailyMetropolitan Bank (NYSE:MCB – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.
Several other research firms have also recently weighed in on MCB. Weiss Ratings restated a “hold (c+)” rating on shares of Metropolitan Bank in a report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Metropolitan Bank from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $92.00.
View Our Latest Analysis on MCB
Metropolitan Bank Trading Down 0.1%
NYSE MCB opened at $83.39 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $86.88 and a 200 day simple moving average of $79.70. Metropolitan Bank has a 12 month low of $47.08 and a 12 month high of $97.84. The firm has a market capitalization of $1.04 billion, a P/E ratio of 12.54 and a beta of 1.13.
Metropolitan Bank (NYSE:MCB – Get Free Report) last posted its earnings results on Tuesday, January 20th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.70. The firm had revenue of $88.41 million during the quarter, compared to analyst estimates of $83.15 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 9.69%. On average, analysts predict that Metropolitan Bank will post 7.31 EPS for the current fiscal year.
Insider Transactions at Metropolitan Bank
In other news, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $90.21, for a total transaction of $112,762.50. Following the completion of the transaction, the executive vice president directly owned 25,839 shares of the company’s stock, valued at $2,330,936.19. This represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Patent sold 4,445 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $92.28, for a total transaction of $410,184.60. Following the sale, the director owned 84,240 shares of the company’s stock, valued at approximately $7,773,667.20. The trade was a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,695 shares of company stock valued at $1,472,847 in the last 90 days. 6.09% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Metropolitan Bank
Several institutional investors and hedge funds have recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Metropolitan Bank in the third quarter valued at $2,198,000. Segall Bryant & Hamill LLC bought a new position in shares of Metropolitan Bank during the 3rd quarter worth $1,597,000. American Century Companies Inc. increased its holdings in Metropolitan Bank by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 324,991 shares of the company’s stock worth $24,316,000 after acquiring an additional 26,522 shares during the last quarter. Patriot Financial Partners GP II L.P. bought a new stake in Metropolitan Bank in the 3rd quarter valued at about $57,229,000. Finally, JPMorgan Chase & Co. raised its stake in Metropolitan Bank by 53.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 178,363 shares of the company’s stock valued at $13,345,000 after acquiring an additional 62,327 shares during the period. 79.83% of the stock is owned by institutional investors.
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.