Metropolitan Bank (NYSE:MCB) PT Raised to $70.00 at JPMorgan Chase & Co.

Metropolitan Bank (NYSE:MCB) had its target price lifted by JPMorgan Chase & Co. from $55.00 to $70.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Keefe, Bruyette & Woods reiterated an outperform rating and set a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research report on Tuesday.

Metropolitan Bank Stock Up 1.4 %

Shares of NYSE MCB opened at $54.88 on Tuesday. The company has a market capitalization of $614.11 million, a P/E ratio of 9.03 and a beta of 1.16. Metropolitan Bank has a 52-week low of $30.20 and a 52-week high of $57.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50 day moving average price is $44.14 and its 200-day moving average price is $42.54.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.07). Metropolitan Bank had a return on equity of 10.62% and a net margin of 15.22%. The firm had revenue of $121.90 million during the quarter, compared to analyst estimates of $68.02 million. During the same quarter last year, the firm posted $1.37 EPS. Equities analysts forecast that Metropolitan Bank will post 6.08 earnings per share for the current year.

Insider Activity at Metropolitan Bank

In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the sale, the chief executive officer now owns 181,208 shares in the company, valued at approximately $10,028,050.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Metropolitan Bank news, CEO Mark R. Defazio sold 34,986 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.34, for a total transaction of $1,936,125.24. Following the completion of the sale, the chief executive officer now owns 181,208 shares in the company, valued at approximately $10,028,050.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Lublin sold 1,005 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $55.11, for a total transaction of $55,385.55. Following the sale, the executive vice president now owns 57,077 shares of the company’s stock, valued at approximately $3,145,513.47. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Metropolitan Bank

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in shares of Metropolitan Bank by 133.4% in the 1st quarter. Acadian Asset Management LLC now owns 48,548 shares of the company’s stock worth $1,867,000 after acquiring an additional 27,752 shares in the last quarter. Harbor Advisors LLC grew its stake in shares of Metropolitan Bank by 10.1% in the 4th quarter. Harbor Advisors LLC now owns 24,783 shares of the company’s stock worth $1,372,000 after acquiring an additional 2,283 shares in the last quarter. Basswood Capital Management L.L.C. grew its stake in shares of Metropolitan Bank by 226.5% in the 4th quarter. Basswood Capital Management L.L.C. now owns 159,279 shares of the company’s stock worth $8,821,000 after acquiring an additional 110,493 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Metropolitan Bank by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 592,253 shares of the company’s stock worth $21,487,000 after acquiring an additional 32,032 shares in the last quarter. Finally, Banc Funds Co. LLC grew its stake in shares of Metropolitan Bank by 1.3% in the 4th quarter. Banc Funds Co. LLC now owns 235,664 shares of the company’s stock worth $13,051,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

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.