Metropolitan Bank Announces Crypto Exit

Today Barrons is reporting: "Metropolitan Bank Is Fleeing Crypto. Bitcoin Investors Should Be Worried. ..." For full coverage click here. Shares of the small-cap Financial Services company have not moved much on the news as of the afternoon trading session, and are currently trading at $58.58.

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 belongs to the Financial Services sector, which has an average price to earnings (P/E) ratio of 13.34 and an average price to book (P/B) ratio of 1.95. In contrast, Metropolitan Bank has a trailing 12 month P/E ratio of 10.9 and a P/B ratio of 1.4.

At today's price of $58.58 per share, Metropolitan Bank is -41.42% away from its target price of $100, and on average, analysts give the stock a rating of buy. 4.5% of the company's shares are linked to short positions, and 86.4% of the shares are owned by institutional investors.

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