Wall Street brokerages predict that Metropolitan Bank Holding Corp (NYSE:MCB) will announce $0.74 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Metropolitan Bank’s earnings. Metropolitan Bank reported earnings of $0.82 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.8%. The firm is expected to announce its next quarterly earnings report on Monday, November 12th.

According to Zacks, analysts expect that Metropolitan Bank will report full year earnings of $3.00 per share for the current financial year, with EPS estimates ranging from $2.99 to $3.00. For the next year, analysts anticipate that the firm will post earnings of $3.51 per share, with EPS estimates ranging from $3.45 to $3.56. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Metropolitan Bank.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.11). Metropolitan Bank had a return on equity of 10.85% and a net margin of 21.51%. The firm had revenue of $20.04 million for the quarter, compared to the consensus estimate of $22.29 million.

Separately, Zacks Investment Research cut shares of Metropolitan Bank from a “buy” rating to a “strong sell” rating in a research report on Tuesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.00.

MCB traded up $0.21 on Monday, hitting $38.43. 38,658 shares of the stock were exchanged, compared to its average volume of 46,484. Metropolitan Bank has a 12 month low of $36.35 and a 12 month high of $55.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $313.68 million and a price-to-earnings ratio of 12.56.

In other Metropolitan Bank news, CFO Anthony J. Fabiano bought 750 shares of the stock in a transaction on Friday, August 10th. The stock was purchased at an average price of $46.38 per share, with a total value of $34,785.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MCB. Bank of America Corp DE raised its stake in Metropolitan Bank by 728.0% during the second quarter. Bank of America Corp DE now owns 2,691 shares of the company’s stock worth $141,000 after acquiring an additional 2,366 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Metropolitan Bank during the second quarter worth about $215,000. Joel Isaacson & Co. LLC acquired a new position in Metropolitan Bank during the second quarter worth about $255,000. Dynamic Technology Lab Private Ltd acquired a new position in Metropolitan Bank during the first quarter worth about $280,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Metropolitan Bank by 42.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 7,400 shares of the company’s stock worth $312,000 after acquiring an additional 2,200 shares in the last quarter. 53.91% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Metropolitan Bank (NYSE:MCB)

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