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Metropolitan Bank Holding (MCB)
NYSE:MCB
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.55Last Year’s EPS
1.46Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jul 24, 2019
|% Change Since: 5.23%
|Next Earnings Date:Apr 24, 2019
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook for MCB, with robust net income growth, successful strategic initiatives, and strong asset quality. However, there were challenges like decreased total deposits in Q4 and reduced noninterest income due to the GPG exit.Company Guidance
During the fourth quarter 2024 earnings call for Metropolitan Commercial Bank (MCB), key performance metrics and strategic guidance were discussed. MCB reported a net income of $21.4 million, or $1.88 per share, and a 16.9% increase in quarterly net interest income compared to the previous year. The bank successfully exited the BaaS business, resulting in a deposit increase of over $245 million in 2024 and $705 million since the end of 2022. The adjusted return on average tangible common equity (ROATCE) was 12.3% for the quarter, with expectations to reach mid-teens in the next 12 to 18 months. The net interest margin (NIM) increased by 4 basis points to 3.66%, with a normalized estimate of 3.55%. For 2025, MCB anticipates loan growth of 9-11%, deposit growth to fund this expansion, and a full-year NIM between 3.7% and 3.75%. Noninterest income is projected to grow by 5-6%, and noninterest expenses are estimated at $175 million to $177 million, including $11 million in one-time costs related to digital transformation projects. Asset quality remains strong, with no new nonperforming credits, and the effective tax rate is expected to be between 31% and 32%.Strong Fourth Quarter Performance
MCB generated net income of $21.4 million or $1.88 per share, with quarterly net interest income increasing 16.9% compared to Q4 2023.
Successful Exit from BaaS Business
MCB successfully exited the BaaS business, which was a significant operational achievement.
Deposit Growth Amidst BaaS Exit
Despite exiting the BaaS business, MCB increased total deposits by over $245 million last year and by $705 million since the end of 2022.
Positive Asset Quality
No new nonperforming credits were reported, and asset quality remains strong with no broad-based negative trends.
Technological Advancements
Investment in the new technology stack is expected to be completed by the end of the year, already showing returns on investment within the payments platform.
Promising Loan Growth
Loan growth in the quarter was $137 million, with a weighted average coupon on new volume originations at 7.8%.
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MCB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MCB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $60.98 | $65.79 | +7.89% |
| Oct 17, 2024 | $62.53 | $58.31 | -6.75% |
| Jul 18, 2024 | $54.18 | $55.90 | +3.17% |
| Apr 18, 2024 | $33.10 | $39.06 | +18.01% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Metropolitan Bank Holding (MCB) report earnings?
Metropolitan Bank Holding (MCB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Metropolitan Bank Holding (MCB) earnings time?
Metropolitan Bank Holding (MCB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MCB EPS forecast?
MCB EPS forecast for the fiscal quarter 2025 (Q1) is 1.55.
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