Zacks: Analysts Set $50.67 Target Price for Metropolitan Bank Holding Corp (MCB)
Shares of Metropolitan Bank Holding Corp (NYSE:MCB) have been assigned a consensus broker rating score of 2.00 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a 1 year consensus price target of $50.67 for the company and are predicting that the company will post $0.74 EPS for the current quarter, according to Zacks. Zacks has also assigned Metropolitan Bank an industry rank of 153 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered shares of Metropolitan Bank from a “buy” rating to a “strong sell” rating in a report on Tuesday, July 31st.
Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Wednesday, July 25th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Metropolitan Bank had a return on equity of 10.85% and a net margin of 21.51%. The firm had revenue of $20.04 million during the quarter, compared to analyst estimates of $22.29 million. On average, sell-side analysts anticipate that Metropolitan Bank will post 3.01 EPS for the current year.
In related news, CFO Anthony J. Fabiano bought 750 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was bought at an average price of $46.38 per share, with a total value of $34,785.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.18% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MCB. BlackRock Inc. increased its position in shares of Metropolitan Bank by 80.2% in the 2nd quarter. BlackRock Inc. now owns 322,743 shares of the company’s stock worth $16,937,000 after purchasing an additional 143,604 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Metropolitan Bank in the 1st quarter worth about $4,337,000. Franklin Resources Inc. increased its position in shares of Metropolitan Bank by 26.4% in the 1st quarter. Franklin Resources Inc. now owns 339,525 shares of the company’s stock worth $14,297,000 after purchasing an additional 70,991 shares during the last quarter. Cadence Capital Management LLC bought a new stake in shares of Metropolitan Bank in the 2nd quarter worth about $2,066,000. Finally, Prudential Financial Inc. bought a new stake in shares of Metropolitan Bank in the 1st quarter worth about $1,615,000. 53.91% of the stock is owned by institutional investors.
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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