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

Metropolitan Bank (NYSE:MCB) had its price target raised by investment analysts at Keefe, Bruyette & Woods from $90.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 15.88% from the company’s current price.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Metropolitan Bank in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Metropolitan Bank presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Metropolitan Bank Stock Performance

Shares of MCB stock opened at $90.61 on Thursday. Metropolitan Bank has a one year low of $47.08 and a one year high of $91.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $933.32 million, a P/E ratio of 13.63 and a beta of 1.13. The firm’s 50 day moving average price is $77.42 and its 200-day moving average price is $75.26.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.70. The company had revenue of $88.41 million for the quarter, compared to the consensus estimate of $83.15 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 9.73%. As a group, equities research analysts predict that Metropolitan Bank will post 7.31 EPS for the current year.

Insider Activity at Metropolitan Bank

In other news, CFO Daniel F. Dougherty acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $71.66 per share, for a total transaction of $71,660.00. Following the completion of the acquisition, the chief financial officer owned 27,341 shares in the company, valued at $1,959,256.06. This represents a 3.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nick Rosenberg sold 625 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $80.41, for a total transaction of $50,256.25. Following the transaction, the executive vice president owned 27,089 shares of the company’s stock, valued at $2,178,226.49. The trade was a 2.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought 1,167 shares of company stock valued at $83,010 in the last quarter. Corporate insiders own 6.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Metropolitan Bank by 9.5% in the second quarter. American Century Companies Inc. now owns 298,469 shares of the company’s stock valued at $20,893,000 after purchasing an additional 25,864 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Metropolitan Bank by 107.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 148,257 shares of the company’s stock valued at $10,378,000 after acquiring an additional 76,745 shares during the last quarter. Strs Ohio purchased a new position in shares of Metropolitan Bank in the first quarter worth $218,000. Sheets Smith Wealth Management purchased a new stake in shares of Metropolitan Bank during the second quarter worth about $533,000. Finally, Creative Planning grew its position in shares of Metropolitan Bank by 128.1% in the 2nd quarter. Creative Planning now owns 14,730 shares of the company’s stock worth $1,031,000 after buying an additional 8,271 shares during the last quarter. Institutional investors own 79.83% of the company’s stock.

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.