Metropolitan Bank (NYSE:MCB) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Metropolitan Bank (NYSE:MCB) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Metropolitan Bank Holding Corp. is the holding company for Metropolitan Commercial Bank(R), The Entrepreneurial Bank. The company is a chartered commercial bank which provides deposits, small business lending, trade finance, cash management solutions, speciality markets, personal checking, savings, electronic banking and prepaid cards. It operates primarily in Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. Metropolitan Bank Holding Corp. is headquartered in New York City. “

Separately, TheStreet cut shares of Tesla from a c- rating to a d+ rating in a research note on Monday, April 29th.

NYSE:MCB opened at $43.96 on Wednesday. Metropolitan Bank has a 1 year low of $29.05 and a 1 year high of $53.05. The firm has a 50 day moving average price of $41.79. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $365.78 million, a PE ratio of 13.28 and a beta of 1.29.

Metropolitan Bank (NYSE:MCB) last posted its earnings results on Wednesday, April 24th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.26. Metropolitan Bank had a net margin of 27.33% and a return on equity of 10.62%. The company had revenue of $23.29 million during the quarter, compared to analysts’ expectations of $22.76 million. On average, analysts anticipate that Metropolitan Bank will post 3.76 earnings per share for the current fiscal year.

In other news, COO Gerard A. Perri sold 2,625 shares of Metropolitan Bank stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $41.15, for a total value of $108,018.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MCB. Basswood Capital Management L.L.C. raised its position in Metropolitan Bank by 25.7% in the 4th quarter. Basswood Capital Management L.L.C. now owns 403,221 shares of the company’s stock worth $12,439,000 after purchasing an additional 82,397 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in Metropolitan Bank by 34.5% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 142,168 shares of the company’s stock worth $4,946,000 after purchasing an additional 36,434 shares during the last quarter. Context BH Capital Management LP raised its position in Metropolitan Bank by 94.1% in the 4th quarter. Context BH Capital Management LP now owns 50,852 shares of the company’s stock worth $1,569,000 after purchasing an additional 24,647 shares during the last quarter. M3F Inc. bought a new position in Metropolitan Bank in the 1st quarter worth approximately $357,000. Finally, Bank of New York Mellon Corp raised its position in Metropolitan Bank by 32.9% in the 4th quarter. Bank of New York Mellon Corp now owns 29,267 shares of the company’s stock worth $903,000 after purchasing an additional 7,238 shares during the last quarter. Hedge funds and other institutional investors own 51.02% of the company’s stock.

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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