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Compared to Estimates, Metropolitan Bank Holding (MCB) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

Metropolitan Bank Holding Corp. (MCB) reported $66.71 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.8%. EPS of $1.46 for the same period compares to $2.25 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $63.97 million, representing a surprise of +4.29%. The company delivered an EPS surprise of +14.06%, with the consensus EPS estimate being $1.28.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Metropolitan Bank Holding performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio: 62.8% versus 59.7% estimated by two analysts on average.

  • Net Interest Margin: 3.4% compared to the 3.4% average estimate based on two analysts.

  • Average Balance - Total interest-earning assets: $7.06 billion compared to the $6.94 billion average estimate based on two analysts.

  • Global Payments Group revenue: $4.07 million versus the two-analyst average estimate of $3.58 million.

  • Net Interest Income: $59.71 million versus the two-analyst average estimate of $59.04 million.

  • Other income: $1.07 million versus $0.66 million estimated by two analysts on average.

  • Service charges on deposit accounts: $1.86 million compared to the $1.69 million average estimate based on two analysts.

  • Total Non-Interest Income: $7 million versus the two-analyst average estimate of $5.93 million.

View all Key Company Metrics for Metropolitan Bank Holding here>>>

Shares of Metropolitan Bank Holding have returned -15.8% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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To read this article on Zacks.com click here.

Zacks Investment Research