Keefe, Bruyette & Woods Issues Positive Forecast for Metropolitan Bank (NYSE:MCB) Stock Price

Metropolitan Bank (NYSE:MCB) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $90.00 to $105.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 15.88% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Metropolitan Bank in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Metropolitan Bank has an average rating of “Moderate Buy” and an average price target of $92.00.

Metropolitan Bank Price Performance

NYSE MCB opened at $90.61 on Thursday. Metropolitan Bank has a 52 week low of $47.08 and a 52 week high of $91.02. The firm has a market capitalization of $933.32 million, a P/E ratio of 13.63 and a beta of 1.13. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $77.42 and a 200-day moving average price of $75.26.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.70. The business had revenue of $88.41 million during the quarter, compared to analyst estimates of $83.15 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 9.73%. Equities research analysts anticipate that Metropolitan Bank will post 7.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Daniel F. Dougherty acquired 1,000 shares of the business’s stock in a transaction on Monday, October 27th. The stock was bought at an average price of $71.66 per share, with a total value of $71,660.00. Following the completion of the acquisition, the chief financial officer owned 27,341 shares of the company’s stock, valued at approximately $1,959,256.06. This represents a 3.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nick Rosenberg sold 625 shares of Metropolitan Bank stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $80.41, for a total value of $50,256.25. Following the completion of the transaction, the executive vice president owned 27,089 shares of the company’s stock, valued at approximately $2,178,226.49. This represents a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired 1,167 shares of company stock valued at $83,010 over the last three months. 6.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Metropolitan Bank

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Metropolitan Bank by 11.7% in the first quarter. Royal Bank of Canada now owns 7,429 shares of the company’s stock valued at $416,000 after purchasing an additional 778 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Metropolitan Bank by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after buying an additional 237 shares during the period. Empowered Funds LLC raised its holdings in shares of Metropolitan Bank by 5.3% in the 1st quarter. Empowered Funds LLC now owns 42,268 shares of the company’s stock valued at $2,367,000 after purchasing an additional 2,126 shares in the last quarter. Strs Ohio purchased a new stake in Metropolitan Bank during the 1st quarter worth about $218,000. Finally, Sheets Smith Wealth Management acquired a new position in Metropolitan Bank in the second quarter valued at approximately $533,000. 79.83% of the stock is currently 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.