Metropolitan Bank (NYSE:MCB) Announces Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Metropolitan Bank (NYSE:MCB - Get Free Report) announced its quarterly earnings data on Monday. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.16), Zacks reports. The firm had revenue of $70.59 million during the quarter, compared to analyst estimates of $67.62 million. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%. During the same quarter last year, the company earned $1.46 EPS.

Metropolitan Bank Stock Performance

Shares of Metropolitan Bank stock traded up $0.21 during midday trading on Friday, hitting $61.02. The company had a trading volume of 136,978 shares, compared to its average volume of 91,748. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. Metropolitan Bank has a 1-year low of $37.10 and a 1-year high of $69.56. The business's 50 day simple moving average is $55.50 and its two-hundred day simple moving average is $59.19. The stock has a market cap of $675.26 million, a PE ratio of 10.31 and a beta of 0.95.

Wall Street Analyst Weigh In

Separately, Hovde Group lifted their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the stock an "outperform" rating in a research report on Monday, January 27th.

Insider Buying and Selling at Metropolitan Bank

In related news, EVP Scott Lublin sold 5,000 shares of Metropolitan Bank stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.60, for a total transaction of $273,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,988 shares of the company's stock, valued at $2,729,344.80. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $54.78, for a total value of $826,520.64. Following the sale, the chief executive officer now owns 100,628 shares in the company, valued at $5,512,401.84. The trade was a 13.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,088 shares of company stock valued at $1,161,791 in the last quarter. Corporate insiders own 6.50% of the company's stock.

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.