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 downgraded Tesla from a c- rating to a d+ rating in a report on Monday, April 29th.
Metropolitan Bank (NYSE:MCB) last issued its earnings results on Wednesday, April 24th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.26. Metropolitan Bank had a return on equity of 10.62% and a net margin of 27.33%. The company had revenue of $23.29 million for the quarter, compared to the consensus estimate of $22.76 million. On average, equities analysts predict that Metropolitan Bank will post 3.76 earnings per share for the current year.
In related news, COO Gerard A. Perri sold 2,625 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $41.15, for a total value of $108,018.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in Metropolitan Bank by 528.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,358 shares of the company’s stock worth $47,000 after purchasing an additional 1,142 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Metropolitan Bank by 356.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,314 shares of the company’s stock worth $71,000 after purchasing an additional 1,807 shares during the period. Marshall Wace North America L.P. bought a new stake in Metropolitan Bank during the first quarter worth approximately $99,000. Joel Isaacson & Co. LLC bought a new stake in shares of Metropolitan Bank in the second quarter valued at approximately $214,000. Finally, Marshall Wace LLP boosted its position in shares of Metropolitan Bank by 331.6% in the first quarter. Marshall Wace LLP now owns 6,059 shares of the company’s stock valued at $211,000 after acquiring an additional 4,655 shares during the period. 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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