Brokerages Set Metropolitan Bank Holding Corp. (NYSE:MCB) Price Target at $95.00

Shares of Metropolitan Bank Holding Corp. (NYSE:MCB) have received a consensus recommendation of “Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $95.00.

Several research analysts have weighed in on the company. Wall Street Zen raised Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Zacks Research raised Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. UBS Group initiated coverage on Metropolitan Bank in a research report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Metropolitan Bank by 70.4% during the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after buying an additional 143 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Metropolitan Bank by 0.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after buying an additional 182 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Metropolitan Bank by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock valued at $350,000 after buying an additional 237 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Metropolitan Bank during the 1st quarter valued at $25,000. Finally, Lazard Asset Management LLC lifted its position in shares of Metropolitan Bank by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock valued at $502,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Stock Down 0.2%

MCB stock opened at $86.95 on Monday. The stock’s fifty day simple moving average is $85.27 and its two-hundred day simple moving average is $82.33. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. Metropolitan Bank has a 1-year low of $62.58 and a 1-year high of $97.84. The stock has a market cap of $1.08 billion, a P/E ratio of 10.71 and a beta of 1.02.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.73. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.The business had revenue of $88.49 million for the quarter, compared to analysts’ expectations of $87.33 million.

Metropolitan Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Metropolitan Bank’s previous quarterly dividend of $0.20. Metropolitan Bank’s payout ratio is currently 12.32%.

About Metropolitan Bank

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.