Metropolitan Bank (NYSE:MCB) Given New $50.00 Price Target at JPMorgan Chase & Co.

Metropolitan Bank (NYSE:MCB - Free Report) had its target price lowered by JPMorgan Chase & Co. from $55.00 to $50.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods lowered their price target on shares of Metropolitan Bank from $73.00 to $66.00 and set an outperform rating on the stock in a research note on Monday, January 22nd. Piper Sandler began coverage on shares of Metropolitan Bank in a research report on Friday, December 15th. They set an overweight rating and a $60.00 target price on the stock.

Metropolitan Bank Trading Up 2.1 %

Metropolitan Bank stock traded up $0.72 during trading hours on Thursday, hitting $35.68. The company had a trading volume of 104,078 shares, compared to its average volume of 106,095. The company has a 50-day moving average price of $41.23 and a two-hundred day moving average price of $41.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.02 and a current ratio of 1.01. Metropolitan Bank has a 1 year low of $15.75 and a 1 year high of $57.15. The firm has a market cap of $395.69 million, a P/E ratio of 5.08 and a beta of 1.18.

Metropolitan Bank (NYSE:MCB - Get Free Report) last posted its earnings results on Thursday, January 18th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.23). Metropolitan Bank had a return on equity of 12.25% and a net margin of 19.16%. The firm had revenue of $63.56 million for the quarter, compared to analyst estimates of $60.96 million. On average, sell-side analysts anticipate that Metropolitan Bank will post 5.93 earnings per share for the current year.

Institutional Investors Weigh In On Metropolitan Bank

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Metropolitan Bank by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 601,497 shares of the company's stock valued at $33,311,000 after purchasing an additional 9,244 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Metropolitan Bank during the 4th quarter worth approximately $717,000. Legal & General Group Plc lifted its stake in Metropolitan Bank by 25.7% in the 4th quarter. Legal & General Group Plc now owns 11,126 shares of the company's stock valued at $616,000 after buying an additional 2,276 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Metropolitan Bank during the 4th quarter valued at $238,000. Finally, Nuveen Asset Management LLC increased its position in Metropolitan Bank by 2.8% during the fourth quarter. Nuveen Asset Management LLC now owns 174,336 shares of the company's stock worth $9,655,000 after buying an additional 4,792 shares in the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

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.