Metropolitan Bank Announces Crypto Exit

By Tamara Parker • Monday, January 09 12:13 • Permanent Link

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.