Equities analysts expect Metropolitan Bank Holding Corp (NYSE:MCB) to post earnings per share (EPS) of $0.90 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Metropolitan Bank’s earnings. The lowest EPS estimate is $0.87 and the highest is $0.92. Metropolitan Bank posted earnings of $0.70 per share during the same quarter last year, which indicates a positive year over year growth rate of 28.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that Metropolitan Bank will report full-year earnings of $3.79 per share for the current fiscal year, with EPS estimates ranging from $3.74 to $3.83. For the next financial year, analysts anticipate that the business will report earnings of $4.31 per share, with EPS estimates ranging from $4.12 to $4.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Metropolitan Bank.
Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.26. Metropolitan Bank had a return on equity of 10.62% and a net margin of 27.33%. The company had revenue of $23.29 million during the quarter, compared to analysts’ expectations of $22.76 million.
Several research analysts have weighed in on MCB shares. Zacks Investment Research downgraded Metropolitan Bank from a “hold” rating to a “sell” rating in a report on Saturday, April 6th. TheStreet upgraded Metropolitan Bank from a “d+” rating to a “c-” rating in a report on Monday, April 29th.
In other news, COO Gerard A. Perri sold 2,625 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $41.15, for a total transaction of $108,018.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its position in Metropolitan Bank by 6.3% in the 1st quarter. New York State Common Retirement Fund now owns 7,760 shares of the company’s stock worth $270,000 after purchasing an additional 460 shares during the last quarter. Northern Trust Corp boosted its position in shares of Metropolitan Bank by 0.8% during the 1st quarter. Northern Trust Corp now owns 75,665 shares of the company’s stock valued at $2,632,000 after acquiring an additional 574 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Metropolitan Bank by 5.5% during the 1st quarter. Wells Fargo & Company MN now owns 11,360 shares of the company’s stock valued at $395,000 after acquiring an additional 594 shares in the last quarter. SEI Investments Co boosted its position in shares of Metropolitan Bank by 95.5% during the 1st quarter. SEI Investments Co now owns 1,863 shares of the company’s stock valued at $59,000 after acquiring an additional 910 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Metropolitan Bank by 528.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,358 shares of the company’s stock valued at $47,000 after acquiring an additional 1,142 shares in the last quarter. Institutional investors and hedge funds own 52.24% of the company’s stock.
MCB traded up $0.31 during trading hours on Friday, reaching $41.77. 225 shares of the company’s stock traded hands, compared to its average volume of 19,587. Metropolitan Bank has a 52-week low of $29.05 and a 52-week high of $55.00. The company has a quick ratio of 1.25, a current ratio of 1.23 and a debt-to-equity ratio of 0.87. The stock has a market cap of $345.40 million, a P/E ratio of 13.71 and a beta of 1.44.
Metropolitan Bank Company Profile
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.
Featured Story: Terms to Better Understand Call Options
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Metropolitan Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metropolitan Bank and related companies with MarketBeat.com's FREE daily email newsletter.