Metropolitan Bank Holding Corp. (NYSE:MCB – Get Rating)’s share price was down 4% during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $90.00 to $67.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Metropolitan Bank traded as low as $57.61 and last traded at $57.79. Approximately 943 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 77,390 shares. The stock had previously closed at $60.17.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Prelude Capital Management LLC raised its stake in Metropolitan Bank by 5.0% in the 1st quarter. Prelude Capital Management LLC now owns 3,062 shares of the company’s stock valued at $312,000 after purchasing an additional 145 shares during the last quarter. Cox Capital Mgt LLC increased its stake in shares of Metropolitan Bank by 4.8% during the 3rd quarter. Cox Capital Mgt LLC now owns 4,556 shares of the company’s stock valued at $293,000 after acquiring an additional 209 shares during the last quarter. Private Capital Group LLC increased its stake in shares of Metropolitan Bank by 127.5% during the 2nd quarter. Private Capital Group LLC now owns 414 shares of the company’s stock valued at $29,000 after acquiring an additional 232 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Metropolitan Bank by 0.3% during the 3rd quarter. New York State Common Retirement Fund now owns 88,611 shares of the company’s stock valued at $5,703,000 after acquiring an additional 233 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Metropolitan Bank by 10.6% during the 2nd quarter. Brown Advisory Inc. now owns 3,078 shares of the company’s stock valued at $328,000 after acquiring an additional 294 shares during the last quarter. Institutional investors and hedge funds own 82.93% of the company’s stock.
Metropolitan Bank Stock Performance
The stock’s 50 day moving average price is $65.01 and its 200 day moving average price is $69.18. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. The company has a market cap of $630.11 million, a price-to-earnings ratio of 7.83 and a beta of 1.11.
Metropolitan Bank (NYSE:MCB – Get Rating) last posted its quarterly earnings data on Thursday, October 20th. The company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.11). Metropolitan Bank had a net margin of 33.54% and a return on equity of 15.14%. The company had revenue of $69.14 million for the quarter, compared to analyst estimates of $67.31 million. On average, analysts expect that Metropolitan Bank Holding Corp. will post 8.32 EPS for the current fiscal year.
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.