Metropolitan Bank Holding Corp. (NYSE:MCB) Given Average Recommendation of "Buy" by Analysts

Key Points

• Metropolitan Bank Holding Corp. has a consensus analyst rating of “Buy”, with five analysts covering the stock and an average 12-month price target of $95.
• The company beat quarterly earnings expectations, reporting EPS of $2.92 versus the $2.19 estimate, while revenue of $88.49 million also edged above forecasts.
• Metropolitan Bank raised its quarterly dividend to $0.25 per share from $0.20, which annualizes to $1.00 per share and implies a 1.1% yield.

Shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $95.00.

Several research analysts recently issued reports on MCB shares. Zacks Research raised shares of Metropolitan Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 21st. UBS Group started coverage on shares of Metropolitan Bank in a research report on Thursday, April 16th. They issued a "neutral" rating and a $97.00 price target for the company. Wall Street Zen raised shares of Metropolitan Bank from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. Weiss Ratings raised shares of Metropolitan Bank from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd.

Institutional Trading of Metropolitan Bank

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Metropolitan Bank by 70.4% during the fourth quarter. Royal Bank of Canada now owns 346 shares of the company's stock worth $27,000 after buying an additional 143 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Metropolitan Bank by 0.3% during the third quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company's stock worth $5,226,000 after buying an additional 182 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Metropolitan Bank by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company's stock worth $350,000 after buying an additional 237 shares during the last quarter. Emerald Advisers LLC bought a new stake in Metropolitan Bank during the first quarter worth about $25,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Metropolitan Bank by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,502 shares of the company's stock worth $344,000 after buying an additional 393 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

Metropolitan Bank Stock Performance

NYSE:MCB opened at $90.68 on Monday. Metropolitan Bank has a 12-month low of $62.58 and a 12-month high of $97.84. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.13 billion, a PE ratio of 11.17 and a beta of 1.02. The firm has a 50-day moving average price of $85.08 and a 200 day moving average price of $81.72.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its quarterly earnings results 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. Metropolitan Bank had a net margin of 15.89% and a return on equity of 11.76%. The firm had revenue of $88.49 million during the quarter, compared to analyst estimates of $87.33 million.

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. This is a positive change from Metropolitan Bank's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 1st. Metropolitan Bank's payout ratio is currently 12.32%.

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.

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