ValuEngine Upgrades Metropolitan Bank (NYSE:MCB) to Hold

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ValuEngine upgraded shares of Metropolitan Bank (NYSE:MCB) from a sell rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Metropolitan Bank from a strong sell rating to a hold rating in a research report on Tuesday, October 8th.

Shares of Metropolitan Bank stock traded up $0.78 during trading hours on Thursday, reaching $39.80. The stock had a trading volume of 15,863 shares, compared to its average volume of 17,476. The stock’s 50 day moving average is $38.70 and its 200 day moving average is $39.81. The firm has a market capitalization of $324.64 million, a PE ratio of 11.75 and a beta of 1.36. Metropolitan Bank has a twelve month low of $29.05 and a twelve month high of $44.99. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.76.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.18). The firm had revenue of $25.61 million during the quarter, compared to analyst estimates of $26.00 million. Metropolitan Bank had a return on equity of 10.37% and a net margin of 24.86%. As a group, sell-side analysts predict that Metropolitan Bank will post 3.34 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in MCB. Marshall Wace LLP increased its stake in shares of Metropolitan Bank by 331.6% during the first quarter. Marshall Wace LLP now owns 6,059 shares of the company’s stock worth $211,000 after purchasing an additional 4,655 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Metropolitan Bank during the first quarter worth about $99,000. Joel Isaacson & Co. LLC purchased a new stake in shares of Metropolitan Bank during the second quarter worth about $214,000. Strs Ohio increased its stake in shares of Metropolitan Bank by 6.9% during the second quarter. Strs Ohio now owns 7,700 shares of the company’s stock worth $338,000 after purchasing an additional 500 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Metropolitan Bank during the second quarter worth about $705,000. 52.21% of the stock is owned by institutional investors and hedge funds.

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.

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