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MCB — Metropolitan Bank Holding News Story

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Brief: Metropolitan Bank Q2 EPS USD 1.76

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

MetricBeat/MissActualConsensus 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 Margin3.8%
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.)

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