Metropolitan Bank (NYSE:MCB) Price Target Raised to $85.00 at Keefe, Bruyette & Woods

Metropolitan Bank (NYSE:MCB) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $73.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 31.40% from the company’s current price.

Separately, Hovde Group raised their price target on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st.

Metropolitan Bank Trading Up 1.1 %

MCB stock traded up $0.70 during midday trading on Wednesday, hitting $64.69. 31,194 shares of the company’s stock were exchanged, compared to its average volume of 93,718. The business has a 50-day simple moving average of $58.62 and a two-hundred day simple moving average of $50.77. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $724.53 million, a PE ratio of 12.22 and a beta of 1.16. Metropolitan Bank has a 1-year low of $32.46 and a 1-year high of $69.56.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Thursday, October 17th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.31. Metropolitan Bank had a return on equity of 10.02% and a net margin of 12.47%. The company had revenue of $71.52 million during the quarter, compared to analysts’ expectations of $66.70 million. On average, sell-side analysts predict that Metropolitan Bank will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Metropolitan Bank news, Director Robert C. Patent sold 1,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $55.32, for a total transaction of $55,320.00. Following the transaction, the director now owns 79,133 shares of the company’s stock, valued at $4,377,637.56. This represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Norman Scott sold 1,473 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the transaction, the senior vice president now directly owns 11,732 shares in the company, valued at $679,517.44. This trade represents a 11.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,973 shares of company stock worth $291,024 in the last quarter. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Metropolitan Bank

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Metropolitan Bank by 4.6% during the first quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after buying an additional 27,499 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Metropolitan Bank during the first quarter valued at about $1,876,000. CWM LLC raised its position in shares of Metropolitan Bank by 70.1% during the second quarter. CWM LLC now owns 784 shares of the company’s stock valued at $33,000 after buying an additional 323 shares during the last quarter. SG Americas Securities LLC bought a new stake in Metropolitan Bank in the second quarter valued at about $273,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Metropolitan Bank during the second quarter worth about $361,000. 79.83% of the stock is currently owned by institutional investors and hedge funds.

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.