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

Metropolitan Bank (NYSE:MCB) announced its earnings results on Monday. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.16), Zacks reports. Metropolitan Bank had a net margin of 13.55% and a return on equity of 10.89%.

Metropolitan Bank Stock Up 2.6 %

Shares of NYSE MCB traded up $1.41 during mid-day trading on Monday, reaching $56.05. The company had a trading volume of 141,408 shares, compared to its average volume of 91,451. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00. Metropolitan Bank has a 12-month low of $37.10 and a 12-month high of $69.56. The stock has a fifty day moving average of $55.80 and a two-hundred day moving average of $59.04. The company has a market capitalization of $629.16 million, a price-to-earnings ratio of 9.47 and a beta of 0.95.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Metropolitan Bank

In other news, CEO Mark R. Defazio sold 15,088 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the transaction, the chief executive officer now directly owns 100,628 shares of the company’s stock, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total transaction of $273,000.00. Following the sale, the executive vice president now directly owns 49,988 shares of the company’s stock, valued at approximately $2,729,344.80. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,088 shares of company stock worth $1,161,791 over the last ninety days. 6.50% of the stock is currently owned by insiders.

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.