Metropolitan Bank (NYSE:MCB) Issues Earnings Results, Misses Expectations By $0.16 EPS

Metropolitan Bank (NYSE:MCB - Get Free Report) posted its earnings results on Monday. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.16), Zacks reports. The business had revenue of $70.59 million for the quarter, compared to analysts' expectations of $67.62 million. Metropolitan Bank had a return on equity of 10.89% and a net margin of 13.55%. During the same quarter in the previous year, the firm earned $1.46 EPS.

Metropolitan Bank Stock Performance

NYSE MCB traded down $0.19 on Friday, reaching $60.63. The stock had a trading volume of 14,252 shares, compared to its average volume of 105,192. The stock has a market cap of $670.88 million, a P/E ratio of 10.24 and a beta of 0.95. Metropolitan Bank has a 12-month low of $37.10 and a 12-month high of $69.56. The business's 50-day moving average price is $55.51 and its 200 day moving average price is $59.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.00.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, CEO Mark R. Defazio sold 15,088 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.78, for a total transaction of $826,520.64. Following the completion of the sale, the chief executive officer now directly owns 100,628 shares of the company's stock, valued at approximately $5,512,401.84. This trade represents a 13.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Lublin sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $54.60, for a total value of $273,000.00. Following the sale, the executive vice president now owns 49,988 shares of the company's stock, valued at $2,729,344.80. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,088 shares of company stock worth $1,161,791. Insiders own 6.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their target price on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an "outperform" rating in a report on Monday, January 27th.

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.