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. The company offers checking, savings, term deposit, and money market accounts, as well as certificates of deposit. It also provides lending products, including commercial, construction, multifamily, and one-to four-family real estate loans; commercial and industrial loans; trade finance and letters of credit, term loans, and working capital lines of credit; commercial mortgages; and consumer loans. In addition, the company offers cash management services, as well as online and mobile banking, ACH, remote deposit capture, and debit card services. As of January 21, 2021, it operated six locations in Manhattan and Brooklyn, as well as Great Neck, Long Island. The company was founded in 1999 and is headquartered in New York, New York.
IPO Year: 2017
Exchange: NYSE
Website: metropolitanbankny.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/21/2024 | $65.50 → $68.00 | Outperform | Hovde Group |
| 9/19/2024 | $50.00 → $65.50 | Outperform | Hovde Group |
| 12/15/2023 | $60.00 | Overweight | Piper Sandler |
| 9/27/2023 | $50.00 | Outperform | Hovde Group |
Strong Operating Results Underscored By Increased Net Interest Margin Financial Highlights The net interest margin for the third quarter of 2024 was 3.62%, an increase of 18 basis points compared to 3.44% for the second quarter of 2024. Total loans at September 30, 2024 were $5.9 billion, an increase of $58.2 million from June 30, 2024 and $542.6 million from September 30, 2023. Total deposits at September 30, 2024 were $6.3 billion, an increase of $100.2 million from June 30, 2024 and $748.3 million from September 30, 2023. Diluted earnings per share of $1.08 for the third quarter of 2024, compared to $1.50 for the second quarter of 2024. Third quarter earnings included $12.6 mill
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release third quarter 2024 financial results after the market closes on Thursday, October 17, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, October 18, 2024, to discuss the results. To access the event by telephone, please dial 800-445-7795 (US), 785-424-1699 (INTL), and provide conference ID: MCBQ324 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations se
The Prestigious Award Highlights the Bank's Commitment to Excellence and Innovation Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank is pleased to announce its recognition as a member of Piper Sandler's Sm-All Stars Class of 2024. This year's class admits 8 new members and welcomes back 22 alumni. The list recognizes 30 companies that outperformed the industry across a variety of metrics including growth, profitability, credit and capital. "Metropolitan Commercial Bank is thrilled to receive this industry recognition, which is a testament of the bank's commitment to financial excellence and unwavering dedication to our client
New Website Strengthens Digital Engagement with Clients Metropolitan Commercial Bank (the "Bank," "MCB"), a full-service commercial bank based in New York City is pleased to announce the launch of its new and improved website at MCBankNY.com. By focusing on user experience and accessibility, the new website aims to provide seamless and convenient banking for the bank's valued clients and partners. "Our mission at Metropolitan Commercial Bank is to provide our clients with the most comprehensive banking solutions while maintaining a high level of personalized service, information security, and innovation," said Dixiana Berrios, Chief Operating Officer at Metropolitan Commercial Bank. "Our
Metropolitan Commercial Bank (NYSE:MCB) proudly rang the Opening Bell at the New York Stock Exchange today to celebrate its 25th Anniversary. This milestone underscores MCB's commitment to innovation, growth, and unwavering service to its clients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240829952132/en/Photo courtesy of NYSE Mark R. DeFazio, Founder, President, and CEO of Metropolitan Commercial Bank, had the honor of ringing the bell, marking the beginning of the trading day. The event celebrated the Bank's quarter-century of achievements and set the stage for the next chapter in its ongoing success story. "Ringing the
Strong Earnings, Liquidity, Capital and Asset Quality While Executing Strategic Initiatives Financial Highlights Loans at June 30, 2024 were $5.8 billion, an increase of $119.7 million from March 31, 2024 and $689.3 million from June 30, 2023. Total deposits at June 30, 2024 were $6.2 billion, a decrease of $67.9 million from March 31, 2024 and an increase of $881.1 million from June 30, 2023. Net interest margin for the second quarter of 2024 expanded 4 basis points to 3.44% from 3.40% for the first quarter of 2024. Diluted earnings per share of $1.50 for the second quarter of 2024, an increase of 2.7% compared to the first quarter of 2024, inclusive of $5.5 million of expen
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release second quarter 2024 financial results after the market closes on Thursday, July 18, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, July 19, 2024, to discuss the results. To access the event by telephone, please dial 800-267-6316 (US), 203-518-9783 (INTL), and provide conference ID: MCBQ224 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations secti
The Bank has Achieved Over 800% Organic Growth Since its Founding On the Eve of the New Millennium Metropolitan Commercial Bank (the "Bank," "MCB"), a full-service commercial bank based in New York City, proudly announces its 25th anniversary, signifying a remarkable milestone in its history. Founded in 1999, Metropolitan Commercial Bank has become a trusted institution renowned for its commitment to excellence, innovation, risk management, and community engagement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240624403397/en/Metropolitan Commercial Bank (Graphic: Business Wire) Reflecting on this Quarter Century Anniversary
Strong commercial bank franchise underscores resiliency in challenging macroeconomic environment Investment in core banking digital transformation underway to support continued growth Financial Highlights Total deposits at March 31, 2024 were $6.2 billion, an increase of $500.3 million from December 31, 2023 and an increase of $1.1 billion from March 31, 2023. Net interest margin expanded 4 basis points to 3.40% for the first quarter of 2024 compared to 3.36% for the fourth quarter of 2023. Loans at March 31, 2024 were $5.7 billion, an increase of $94.4 million from December 31, 2023 and $867.5 million from March 31, 2023. Diluted earnings per share of $1.46 for the first qu
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release first quarter 2024 financial results after the market closes on Thursday, April 18, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, April 19, 2024, to discuss the results. To access the event by telephone, please dial 800-267-6316 (US), 203-518-9783 (INTL), and provide conference ID: MCBQ124 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations sect
Hovde Group reiterated coverage of Metropolitan Bank with a rating of Outperform and set a new price target of $68.00 from $65.50 previously
Hovde Group resumed coverage of Metropolitan Bank with a rating of Outperform and set a new price target of $65.50 from $50.00 previously
Piper Sandler initiated coverage of Metropolitan Bank with a rating of Overweight and set a new price target of $60.00
Hovde Group initiated coverage of Metropolitan Bank with a rating of Outperform and set a new price target of $50.00
Strong Operating Results Underscored By Increased Net Interest Margin Financial Highlights The net interest margin for the third quarter of 2024 was 3.62%, an increase of 18 basis points compared to 3.44% for the second quarter of 2024. Total loans at September 30, 2024 were $5.9 billion, an increase of $58.2 million from June 30, 2024 and $542.6 million from September 30, 2023. Total deposits at September 30, 2024 were $6.3 billion, an increase of $100.2 million from June 30, 2024 and $748.3 million from September 30, 2023. Diluted earnings per share of $1.08 for the third quarter of 2024, compared to $1.50 for the second quarter of 2024. Third quarter earnings included $12.6 mill
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release third quarter 2024 financial results after the market closes on Thursday, October 17, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, October 18, 2024, to discuss the results. To access the event by telephone, please dial 800-445-7795 (US), 785-424-1699 (INTL), and provide conference ID: MCBQ324 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations se
Strong Earnings, Liquidity, Capital and Asset Quality While Executing Strategic Initiatives Financial Highlights Loans at June 30, 2024 were $5.8 billion, an increase of $119.7 million from March 31, 2024 and $689.3 million from June 30, 2023. Total deposits at June 30, 2024 were $6.2 billion, a decrease of $67.9 million from March 31, 2024 and an increase of $881.1 million from June 30, 2023. Net interest margin for the second quarter of 2024 expanded 4 basis points to 3.44% from 3.40% for the first quarter of 2024. Diluted earnings per share of $1.50 for the second quarter of 2024, an increase of 2.7% compared to the first quarter of 2024, inclusive of $5.5 million of expen
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release second quarter 2024 financial results after the market closes on Thursday, July 18, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, July 19, 2024, to discuss the results. To access the event by telephone, please dial 800-267-6316 (US), 203-518-9783 (INTL), and provide conference ID: MCBQ224 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations secti
Strong commercial bank franchise underscores resiliency in challenging macroeconomic environment Investment in core banking digital transformation underway to support continued growth Financial Highlights Total deposits at March 31, 2024 were $6.2 billion, an increase of $500.3 million from December 31, 2023 and an increase of $1.1 billion from March 31, 2023. Net interest margin expanded 4 basis points to 3.40% for the first quarter of 2024 compared to 3.36% for the fourth quarter of 2023. Loans at March 31, 2024 were $5.7 billion, an increase of $94.4 million from December 31, 2023 and $867.5 million from March 31, 2023. Diluted earnings per share of $1.46 for the first qu
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release first quarter 2024 financial results after the market closes on Thursday, April 18, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, April 19, 2024, to discuss the results. To access the event by telephone, please dial 800-267-6316 (US), 203-518-9783 (INTL), and provide conference ID: MCBQ124 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations sect
Stable performance demonstrates MCB's ability to execute on its business plan in a challenging economic environment Financial Highlights Total deposits at December 31, 2023 were $5.7 billion, an increase of $215.7 million from September 30, 2023 and an increase of $459.4 million from December 31, 2022. Net loans at December 31, 2023 were $5.6 billion, with strong growth of $270.3 million from September 30, 2023 and $784.3 million from December 31, 2022. Asset quality remains strong. Net interest margin for the fourth quarter of 2023 increased to 3.36% compared to 3.27% for the prior linked quarter. Full year 2023 net interest margin of 3.49%, consistent with prior year. Fu
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release fourth quarter and full year 2023 financial results after the market closes on Thursday, January 18, 2024. The Company will conduct a conference call at 9:00 a.m. ET on Friday, January 19, 2024, to discuss the results. To access the event by telephone, please dial 800-267-6316 (US), 203-518-9783 (INTL), and provide conference ID: MCBQ423 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Inve
Sustained Core Funding and Balance Sheet Growth Demonstrates Disciplined Approach to Balance Sheet Management Quarterly Financial Highlights Total deposits at September 30, 2023 were $5.5 billion, an increase of $233.0 million from June 30, 2023 and an increase of $243.7 million from December 31, 2022. Strong prudent loan growth, with net loan growth of $204.9 million from June 30, 2023 and $514.0 million from December 31, 2022. Asset quality remains strong. Stable net interest income of $53.6 million. Return on average equity of 13.9% and return on average tangible common equity1 of 14.1%. Liquidity remains strong. At September 30, 2023, cash on deposit with the Federa
Metropolitan Bank Holding Corp. (the "Company") (NYSE:MCB), the holding company for Metropolitan Commercial Bank, today announced it will release third quarter financial results after the market closes on Thursday, October 19, 2023. The Company will conduct a conference call at 9:00 a.m. ET on Friday, October 20, 2023, to discuss the results. To access the event by telephone, please dial 800-343-5172 (US), 203-518-9814 (INTL), and provide conference ID: MCBQ323 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations secti
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The Bank has Achieved Over 800% Organic Growth Since its Founding On the Eve of the New Millennium Metropolitan Commercial Bank (the "Bank," "MCB"), a full-service commercial bank based in New York City, proudly announces its 25th anniversary, signifying a remarkable milestone in its history. Founded in 1999, Metropolitan Commercial Bank has become a trusted institution renowned for its commitment to excellence, innovation, risk management, and community engagement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240624403397/en/Metropolitan Commercial Bank (Graphic: Business Wire) Reflecting on this Quarter Century Anniversary
Metropolitan Commercial Bank (the "Bank," "MCB"), a New York City-based full-service commercial bank, announced today the appointment of Gregory Gaare as Senior Vice President and Chief Risk Officer, Theodore George Andreades as Senior Vice President and Bank Secrecy Act/Anti-Money Laundering Officer, and John M. McCaffery as Senior Vice President and Treasurer. "Metropolitan Commercial Bank is delighted to welcome Greg Gaare, a seasoned risk management professional. As MCB charts its course toward expansion, enlisting individuals from larger financial institutions with extensive risk management experience is imperative. Securing the expertise of Ted Andreades, an experienced BSA/AML offi
Michael A. Guarino to retire as General Counsel in 2024 Metropolitan Bank Holding Corp. (NYSE:MCB) (the "Company"), the holding company for Metropolitan Commercial Bank (the "Bank"), announced today the appointment of Frederik F. Erikson as Executive Vice President and General Counsel, effective September 25, 2023. He has joined the Executive Leadership Team and oversees all of the Company's and Bank's legal activities. Mr. Erikson's extensive commercial and retail banking legal career spans over two decades, primarily cultivated during his tenure at Webster Bank, N.A., based in Waterbury, Connecticut. While at Webster Bank, he held several leadership roles, including Deputy General Cou
Metropolitan Commercial Bank (the "Bank"), a New York City-based full-service commercial bank, announced today the appointment of Anthony Ter-Gevondyan as Vice President, Commercial Lending Officer. "Anthony is our latest new hire in our concerted effort to find the best-of-the-best banking executives as we look ahead to further strengthening our institution," said Mark R. DeFazio, President and CEO of Metropolitan Commercial Bank. "His commercial construction, equipment, financial services and healthcare lending and deposit vertical expertise will allow us to broaden our deposit and lending relationships in the Florida market. Anthony will be located in our Brickell, Florida office and r
Metropolitan Commercial Bank (the "Bank"), a New York City-based full-service commercial bank, announced today the further expansion of their Title and Escrow Deposit Vertical with the appointment of two veteran Title and Escrow banking professionals from Fifth Third Bank. "Rob and Nowanna are a great fit to assist in expanding our Title and Escrow group," said Mark R. DeFazio, President and CEO of Metropolitan Commercial Bank. "Title and Escrow and 1031 Exchange business are a natural expansion of one of the Bank's core competencies allowing us to deepen our deposit relationships with accounting and law firms, title companies, and real estate managers, owners and investors. This new team
Over 20 Years of Experience in Transforming Enterprise Businesses Metropolitan Commercial Bank (the "Bank"), the wholly owned subsidiary of Metropolitan Bank Holding Corp. (NYSE:MCB), today announced that the Bank hired Jean-Philippe Gerbi as Senior Vice President and Chief Digital Officer. Mr. Gerbi will report to Dixiana Berrios, Executive Vice President and Chief Operating Officer. He will be responsible for the Bank's digital platforms that support the Bank's position as a leading commercial banking and payment solutions innovator. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220621005111/en/Jean-Philippe Gerbi, SVP Chief
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JP Morgan analyst Steven Alexopoulos maintains Metropolitan Bank Holding (NYSE:MCB) with a Overweight and raises the price target from $55 to $70.
Keefe, Bruyette & Woods analyst Christopher O'Connell reiterates Metropolitan Bank Holding (NYSE:MCB) with a Outperform and raises the price target from $55 to $67.5.
Metropolitan Bank Holding (NYSE:MCB) reported quarterly earnings of $1.50 per share which missed the analyst consensus estimate of $1.51 by 0.66 percent. This is a 9.49 percent increase over earnings of $1.37 per share from the same period last year. The company reported quarterly sales of $67.678 million which missed the analyst consensus estimate of $67.891 million by 0.31 percent. This is a 9.86 percent increase over sales of $61.606 million the same period last year.
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Regional bank stocks, as represented by the SPDR S&P Regional Banking ETF (NYSE:KRE), have experienced a noticeable rebound after recently hitting the 200-day moving average support. This positive movement follows a series of strong earnings aQ1 2024 reports from sector players. Despite this uptick, the gauge still remains nearly 20% below its pre-March 2023 crisis level, a stark reminder of last year’s turmoil in the regional banking sector. Chart: Regional Banks Rebound Off 200-Day Support Line Analyst Insights And Key Stock Valuation “Regional banks with strong deposit franchises are well-positioned in a structurally higher rate environment,” said Ebrahim H. Poonawal
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