Metropolitan Bank price target raised to $74 from $67 at Piper Sandler

Piper Sandler raised the firm’s price target on Metropolitan Bank (MCB) to $74 from $67 and keeps an Overweight rating on the shares. The stock is trading at a discounted price-to-earnings multiple which is “too large and should begin to narrow,” the analyst tells investors in a research note. Piper says Metropolitan Bank has generated superior growth over time. It calls Metropolitan and Orange County Bancorp “small-cap stocking stuffers.”