ValuEngine upgraded shares of Metropolitan Bank (NYSE:MCB) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Metropolitan Bank from a strong sell rating to a hold rating in a report on Tuesday, October 8th.

MCB stock traded up $0.78 during trading on Thursday, hitting $39.80. 15,863 shares of the company’s stock traded hands, compared to its average volume of 17,476. The firm has a market capitalization of $324.64 million, a P/E ratio of 11.75 and a beta of 1.36. The business has a fifty day simple moving average of $38.70 and a two-hundred day simple moving average of $39.81. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Metropolitan Bank has a 1 year low of $29.05 and a 1 year high of $44.99.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.18). The business had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $26.00 million. Metropolitan Bank had a net margin of 24.86% and a return on equity of 10.37%. On average, equities research analysts predict that Metropolitan Bank will post 3.34 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in Metropolitan Bank in the second quarter worth $26,000. Russell Investments Group Ltd. grew its holdings in Metropolitan Bank by 196.4% in the second quarter. Russell Investments Group Ltd. now owns 1,660 shares of the company’s stock worth $73,000 after purchasing an additional 1,100 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Metropolitan Bank in the first quarter worth $99,000. Tower Research Capital LLC TRC grew its holdings in Metropolitan Bank by 198.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,514 shares of the company’s stock worth $111,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Metropolitan Bank by 271.9% in the second quarter. Morgan Stanley now owns 3,912 shares of the company’s stock worth $172,000 after purchasing an additional 2,860 shares during the last quarter. 52.21% of the stock is currently owned by institutional investors and hedge funds.

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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