Metropolitan Bank Holding Second Quarter 2024 Earnings: In Line With Expectations

Metropolitan Bank Holding (NYSE:MCB) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$66.1m (up 15% from 2Q 2023).
• Net income: US$16.8m (up 8.5% from 2Q 2023).
• Profit margin: 25% (down from 27% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.50 (up from US$1.39 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Metropolitan Bank Holding Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 16% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Metropolitan Bank Holding that you should be aware of.

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