Metropolitan Bank (NYSE:MCB) Receives Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Metropolitan Bank (NYSE:MCB) in a report issued on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $67.50 price objective on the stock, up from their prior price objective of $55.00.

Separately, JPMorgan Chase & Co. dropped their price target on Metropolitan Bank from $55.00 to $50.00 and set an overweight rating for the company in a research report on Thursday, April 4th.

Metropolitan Bank Stock Performance

NYSE:MCB opened at $54.10 on Tuesday. The stock has a 50-day moving average price of $43.93 and a 200 day moving average price of $42.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Metropolitan Bank has a 12-month low of $30.20 and a 12-month high of $57.69. The stock has a market capitalization of $605.38 million, a P/E ratio of 8.90 and a beta of 1.16.

Metropolitan Bank (NYSE:MCB) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a net margin of 15.22% and a return on equity of 10.62%. The firm had revenue of $121.90 million for the quarter, compared to the consensus estimate of $68.02 million. During the same period in the previous year, the company posted $1.37 earnings per share. Equities research analysts forecast that Metropolitan Bank will post 6.08 EPS for the current fiscal year.

Insider Transactions at Metropolitan Bank

In related news, EVP Scott Lublin sold 1,005 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total transaction of $55,385.55. Following the transaction, the executive vice president now directly owns 57,077 shares in the company, valued at approximately $3,145,513.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Scott Lublin sold 1,005 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $55.11, for a total transaction of $55,385.55. Following the completion of the sale, the executive vice president now directly owns 57,077 shares of the company’s stock, valued at approximately $3,145,513.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George J. Wolf, Jr. acquired 1,183 shares of the business’s stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $46,137.00. Following the transaction, the director now directly owns 27,995 shares in the company, valued at $1,091,805. The disclosure for this purchase can be found here. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Metropolitan Bank

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Metropolitan Bank by 5.7% during the third quarter. Vanguard Group Inc. now owns 592,253 shares of the company’s stock worth $21,487,000 after acquiring an additional 32,032 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Metropolitan Bank by 7.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 34,004 shares of the company’s stock worth $1,883,000 after purchasing an additional 2,480 shares during the period. Harbor Advisors LLC raised its position in Metropolitan Bank by 10.1% during the 4th quarter. Harbor Advisors LLC now owns 24,783 shares of the company’s stock valued at $1,372,000 after purchasing an additional 2,283 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Metropolitan Bank by 0.8% in the 4th quarter. Russell Investments Group Ltd. now owns 120,952 shares of the company’s stock worth $6,698,000 after buying an additional 914 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Metropolitan Bank during the 4th quarter worth $447,000. 79.83% of the stock is owned by hedge funds and other institutional investors.

About Metropolitan Bank

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.