Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Metropolitan Bank (NYSE:MCB) Stock

Metropolitan Bank (NYSE:MCB) had its price objective lifted by Keefe, Bruyette & Woods from $105.00 to $109.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 24.20% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Zacks Research raised Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. UBS Group initiated coverage on Metropolitan Bank in a report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price target for the company. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Weiss Ratings raised Metropolitan Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Metropolitan Bank has a consensus rating of “Buy” and a consensus price target of $95.00.

Metropolitan Bank Trading Down 1.6%

Shares of MCB opened at $87.76 on Thursday. Metropolitan Bank has a 1 year low of $59.50 and a 1 year high of $97.84. 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 stock has a 50 day simple moving average of $85.51 and a 200-day simple moving average of $80.93. The stock has a market cap of $1.09 billion, a PE ratio of 10.81 and a beta of 1.13.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.73. Metropolitan Bank had a return on equity of 11.76% and a net margin of 15.89%.The business had revenue of $88.49 million during the quarter, compared to analysts’ expectations of $87.33 million.

Institutional Investors Weigh In On Metropolitan Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the company. OP Asset Management Ltd acquired a new stake in shares of Metropolitan Bank in the 1st quarter valued at $338,000. Diversified Trust Co acquired a new stake in shares of Metropolitan Bank in the 1st quarter valued at $223,000. EP Wealth Advisors LLC acquired a new stake in shares of Metropolitan Bank in the 4th quarter valued at $208,000. Wellington Management Group LLP increased its stake in shares of Metropolitan Bank by 66.6% in the 4th quarter. Wellington Management Group LLP now owns 592,799 shares of the company’s stock valued at $45,266,000 after buying an additional 236,946 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Metropolitan Bank by 111.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 61,788 shares of the company’s stock valued at $4,718,000 after buying an additional 32,587 shares during the period. 79.83% of the stock is owned by institutional investors and hedge funds.

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.