Metropolitan Bank (NYSE:MCB) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Metropolitan Bank (NYSE:MCB – Get Rating) released its earnings results on Thursday. The company reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.13, MarketWatch Earnings reports. Metropolitan Bank had a return on equity of 13.37% and a net margin of 30.74%. During the same period in the previous year, the company posted $1.43 earnings per share.

Shares of NYSE MCB traded down $2.10 during midday trading on Friday, hitting $97.94. The stock had a trading volume of 1,709 shares, compared to its average volume of 103,583. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. Metropolitan Bank has a fifty-two week low of $53.37 and a fifty-two week high of $115.78. The company’s 50-day simple moving average is $100.05 and its 200 day simple moving average is $99.10. The firm has a market cap of $1.07 billion, a P/E ratio of 15.36 and a beta of 1.24.

In other Metropolitan Bank news, CEO Mark R. Defazio sold 2,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $106.12, for a total transaction of $237,602.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Defazio sold 300 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $106.18, for a total transaction of $31,854.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,584 shares of company stock valued at $372,891. 8.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its holdings in Metropolitan Bank by 8.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,512 shares of the company’s stock worth $268,000 after buying an additional 192 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Metropolitan Bank by 6.1% in the fourth quarter. Alliancebernstein L.P. now owns 8,644 shares of the company’s stock valued at $921,000 after purchasing an additional 500 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Metropolitan Bank by 11.0% in the third quarter. Royal Bank of Canada now owns 7,725 shares of the company’s stock valued at $651,000 after purchasing an additional 764 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Metropolitan Bank by 128.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,974 shares of the company’s stock valued at $166,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Metropolitan Bank by 34.6% in the fourth quarter. Deutsche Bank AG now owns 5,961 shares of the company’s stock valued at $635,000 after purchasing an additional 1,533 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.

Separately, Zacks Investment Research raised Metropolitan Bank from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Wednesday, April 6th.

Metropolitan Bank Company Profile (Get Rating)

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.

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