Metropolitan Bank (NYSE:MCB) Lowered to Sell at Zacks Investment Research
According to Zacks, “Metropolitan Bank Holding Corp. is the holding company for Metropolitan Commercial Bank(R), The Entrepreneurial Bank. The company is a chartered commercial bank which provides deposits, small business lending, trade finance, cash management solutions, speciality markets, personal checking, savings, electronic banking and prepaid cards. It operates primarily in Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. Metropolitan Bank Holding Corp. is headquartered in New York City. “
Separately, TheStreet downgraded shares of Tesla from a c- rating to a d+ rating in a research report on Monday, April 29th.
Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.26. Metropolitan Bank had a net margin of 27.33% and a return on equity of 10.62%. The firm had revenue of $23.29 million during the quarter, compared to the consensus estimate of $22.76 million. On average, research analysts anticipate that Metropolitan Bank will post 3.76 earnings per share for the current year.
In related news, COO Gerard A. Perri sold 2,625 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $41.15, for a total value of $108,018.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Joel Isaacson & Co. LLC acquired a new stake in shares of Metropolitan Bank in the second quarter valued at about $214,000. Marshall Wace North America L.P. acquired a new stake in shares of Metropolitan Bank in the first quarter valued at about $99,000. Marshall Wace LLP grew its position in shares of Metropolitan Bank by 331.6% in the first quarter. Marshall Wace LLP now owns 6,059 shares of the company’s stock valued at $211,000 after purchasing an additional 4,655 shares during the period. M3F Inc. acquired a new stake in shares of Metropolitan Bank in the first quarter valued at about $357,000. Finally, Pacific Ridge Capital Partners LLC grew its position in shares of Metropolitan Bank by 34.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 142,168 shares of the company’s stock valued at $4,946,000 after purchasing an additional 36,434 shares during the period. 51.02% of the stock is owned by 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.
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