Overview
Metropolitan Bank Q2 diluted EPS rises 21.4% from Q1 to $1.76
Net interest margin improves to 3.83%, up from 3.68% in Q1
Co completes $50 mln share buyback, announces new $50 mln buyback plan
Outlook
Strong balance sheet supports strategic growth initiatives
Bank confident in financial strength for future opportunities
Result Drivers
NET INTEREST MARGIN - Increase to 3.83% driven by loan and deposit pricing initiatives
LOAN GROWTH - Total loans increased by $270.7 mln, primarily in commercial real estate
ASSET QUALITY - Stable asset quality with slight increase in non-performing loans ratio
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$76.27 mln
Q2 EPS
$1.76
Q2 Net Income
$18.77 mln
Q2 Net Interest Income
$73.60 mln
Q2 Net Interest Margin
3.8%
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Metropolitan Bank Holding Corp is $79.00, about 6.7% above its July 16 closing price of $73.74
Press Release: ID:nBw2TNkD8a
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)