Metropolitan Bank Holding Corp reports results for the quarter ended in June - Earnings Summary

Metropolitan Bank Holding

19/07/2024 15:29

* Metropolitan Bank Holding Corp  MCB.N  reported quarterly
adjusted earnings of $1.50​​ per share for the quarter ended in
June, higher than the same quarter last year, when the company
reported EPS of $1.37.  The mean expectation of three analysts
for the quarter was for earnings of $1.57 per share. Wall Street
expected results to range from $1.48  to $1.66 per share.
    * Revenue rose 9.9% to $67.68 million from a year ago;
analysts
expected $67.89 million. 
    * Metropolitan Bank Holding Corp's reported EPS for the
quarter
was $1.50​.
    * The company reported quarterly net income of $16.8
million.
    * Metropolitan Bank Holding Corp shares had risen by 28.7%
this
quarter and lost 2.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 7.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * 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
also "buy"

Wall Street's median 12-month price target for Metropolitan Bank
Holding Corp is $51.50 
This summary was machine generated from LSEG data July 19 at
02:29 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.57           1.50           Missed
 Mar. 31 2024      1.34           1.46           Beat
 Dec. 31 2023      1.49           1.28           Missed
 Sep. 30 2023      1.63           1.97           Beat