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

Metropolitan Bank Holding

19/04/2024 11:07

* Metropolitan Bank Holding Corp  MCB.N  reported quarterly
adjusted earnings of $1.46​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of $2.25.  The mean expectation of four analysts
for the quarter was for earnings of $1.34 per share. Wall Street
expected results to range from $1.19  to $1.41 per share.
    * Revenue rose 1.8% to $66.71 million from a year ago;
analysts
expected $64.56 million. 
    * Metropolitan Bank Holding Corp's reported EPS for the
quarter
was $1.46​.
    * The company reported quarterly net income of $16.2
million.
    * Metropolitan Bank Holding Corp shares had fallen by 14.0%
this
quarter and lost 40.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.4%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "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 $50.00 
This summary was machine generated from LSEG data April 19 at
10:06 a.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
 Mar. 31 2024      1.34           1.46           Beat
 Dec. 31 2023      1.49           1.28           Missed
 Sep. 30 2023      1.63           1.97           Beat
 Jun. 30 2023      1.75           1.37           Missed