$21.02 Million in Sales Expected for Metropolitan Bank Holding Corp (MCB) This Quarter
Brokerages predict that Metropolitan Bank Holding Corp (NYSE:MCB) will report sales of $21.02 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Metropolitan Bank’s earnings. The lowest sales estimate is $20.90 million and the highest is $21.14 million. Metropolitan Bank posted sales of $21.82 million in the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The company is expected to issue its next quarterly earnings results on Monday, February 4th.
According to Zacks, analysts expect that Metropolitan Bank will report full year sales of $83.31 million for the current fiscal year, with estimates ranging from $83.20 million to $83.41 million. For the next financial year, analysts anticipate that the business will post sales of $94.26 million, with estimates ranging from $93.40 million to $95.12 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Metropolitan Bank.
Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, October 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $20.36 million for the quarter, compared to analyst estimates of $20.57 million. Metropolitan Bank had a net margin of 23.70% and a return on equity of 10.78%.
NYSE:MCB traded up $0.32 on Friday, hitting $37.47. The stock had a trading volume of 8,000 shares, compared to its average volume of 44,219. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $306.38 million and a price-to-earnings ratio of 12.16. Metropolitan Bank has a 1-year low of $35.00 and a 1-year high of $55.00.
Several institutional investors have recently added to or reduced their stakes in MCB. Bank of America Corp DE raised its stake in shares of Metropolitan Bank by 728.0% in the 2nd quarter. Bank of America Corp DE now owns 2,691 shares of the company’s stock valued at $141,000 after acquiring an additional 2,366 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Metropolitan Bank in the 3rd quarter valued at approximately $209,000. Russell Investments Group Ltd. purchased a new stake in shares of Metropolitan Bank in the 2nd quarter valued at approximately $215,000. Jane Street Group LLC purchased a new stake in shares of Metropolitan Bank in the 3rd quarter valued at approximately $234,000. Finally, Joel Isaacson & Co. LLC purchased a new stake in shares of Metropolitan Bank in the 2nd quarter valued at approximately $255,000. 53.90% of the stock is currently owned by institutional investors and hedge funds.
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.
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