Metropolitan Bank Holding Corp. Reports Third Quarter 2024 Results
Metropolitan Bank Holding Corp. (MCB)
NASDAQ:AMEX Investor Relations:
metropolitanbankny.com/about-us.aspx
Company Research
Source: Business Wire
Strong Operating Results Underscored By Increased Net Interest MarginFinancial HighlightsThe 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 million of pre-tax expenses related to a $10 million regulatory reserve, our Modern Banking in Motion digital transformation initiative, the Global Payments Group (“GPG”) wind down, and other regulatory remediation costs, all of which impacted diluted earnings per share by $0.78.Asset quality continues to be stable.
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MCB
News
- Metropolitan Commercial Bank Named to Newsweek’s America’s Best Regional Banks and Credit Unions 2025Business Wire
- Metropolitan Bank Holding Corp. (NYSE: MCB) had its price target raised by analysts at Piper Sandler from $67.00 to $74.00. They now have an "overweight" rating on the stock.MarketBeat
- Metropolitan Bank Holding Corp. (NYSE: MCB) had its price target raised by analysts at Keefe, Bruyette & Woods from $73.00 to $85.00. They now have an "outperform" rating on the stock.MarketBeat
- Metropolitan Bank Holding (MCB) Soars 5.3%: Is Further Upside Left in the Stock? [Yahoo! Finance]Yahoo! Finance
- Metropolitan Bank Holding Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags [Yahoo! Finance]Yahoo! Finance
MCB
Earnings
- 10/17/24 - Miss
MCB
Sec Filings
- 12/19/24 - Form 144
- 11/29/24 - Form S-3ASR
- 11/14/24 - Form SC
- MCB's page on the SEC website