OTCPK:MTPO.F

Stock Analysis Report

Metropolitan Bank & Trust

Executive Summary

Metropolitan Bank & Trust Company, together with its subsidiaries, provides various commercial and investment banking products and services in the Philippines and internationally.

Rewards

PE ratio (11.2x) is below the US market (18.6x)

Earnings are forecast to grow 13.78% per year

Earnings have grown 6.2% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Shareholders have been diluted in the past year



Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has Metropolitan Bank & Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MTPO.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

MTPO.F

1.4%

US Banks

0.7%

US Market


1 Year Return

n/a

MTPO.F

26.9%

US Banks

21.1%

US Market

Return vs Industry: Insufficient data to determine how MTPO.F performed against the US Banks industry.

Return vs Market: Insufficient data to determine how MTPO.F performed against the US Market.


Shareholder returns

MTPO.FIndustryMarket
7 Day0%1.4%0.7%
30 Day0%4.0%2.3%
90 Day0%9.8%5.0%
1 Yearn/a30.7%26.9%23.7%21.1%
3 Year-10.9%-10.9%34.0%24.6%47.0%37.4%
5 Yearn/a75.7%56.1%65.7%47.5%

Price Volatility Vs. Market

How volatile is Metropolitan Bank & Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Metropolitan Bank & Trust undervalued compared to its fair value and its price relative to the market?

11.23x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MTPO.F ($1.31) is trading above our estimate of fair value ($1.21)

Significantly Below Fair Value: MTPO.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MTPO.F is good value based on its PE Ratio (11.2x) compared to the Banks industry average (12.9x).

PE vs Market: MTPO.F is good value based on its PE Ratio (11.2x) compared to the US market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: MTPO.F is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: MTPO.F is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Metropolitan Bank & Trust forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

13.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MTPO.F's forecast earnings growth (13.8% per year) is above the savings rate (1.7%).

Earnings vs Market: MTPO.F's earnings (13.8% per year) are forecast to grow slower than the US market (14.2% per year).

High Growth Earnings: MTPO.F's earnings are forecast to grow, but not significantly.

Revenue vs Market: MTPO.F's revenue (10.1% per year) is forecast to grow faster than the US market (7.4% per year).

High Growth Revenue: MTPO.F's revenue (10.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MTPO.F's Return on Equity is forecast to be low in 3 years time (10.3%).


Next Steps

Past Performance

How has Metropolitan Bank & Trust performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MTPO.F has a high level of non-cash earnings.

Growing Profit Margin: MTPO.F's current net profit margins (28.8%) are higher than last year (26.2%).


Past Earnings Growth Analysis

Earnings Trend: MTPO.F's earnings have grown by 6.2% per year over the past 5 years.

Accelerating Growth: MTPO.F's earnings growth over the past year (23.2%) exceeds its 5-year average (6.2% per year).

Earnings vs Industry: MTPO.F earnings growth over the past year (23.2%) underperformed the Banks industry 27.1%.


Return on Equity

High ROE: MTPO.F's Return on Equity (8.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Metropolitan Bank & Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MTPO.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: MTPO.F's debt is covered by short term assets (assets are 1.7x debt).


Financial Institutions Analysis

Asset Level: MTPO.F's level of assets compared to its equity is low.

Allowance for Bad Loans: MTPO.F has a sufficient allowance for bad loans.

Low Risk Liabilities: MTPO.F's liabilities are made up of primarily low risk sources of funding.

Loan Level: MTPO.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MTPO.F's loans are broadly funded by customer deposits.

Level of Bad Loans: MTPO.F has an appropriate level of bad loans (1.25%)


Next Steps

Dividend

What is Metropolitan Bank & Trust's current dividend yield, its reliability and sustainability?

1.32%

Current Dividend Yield


Dividend Yield vs Market

company1.3%marketbottom25%1.4%markettop25%3.7%industryaverage2.7%forecastin3Years1.4%

Current dividend yield vs market & industry

Notable Dividend: MTPO.F's dividend (1.32%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: MTPO.F's dividend (1.32%) is low compared to the top 25% of dividend payers in the US market (3.71%).


Stability and Growth of Payments

Stable Dividend: MTPO.F's dividend payments have been volatile in the past 10 years.

Growing Dividend: MTPO.F's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (14.8%), MTPO.F's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MTPO.F's dividends in 3 years are forecast to be thoroughly covered by earnings (12.8% payout ratio).


Next Steps

Management

What is the CEO of Metropolitan Bank & Trust's salary, the management and board of directors tenure and is there insider trading?

10.8yrs

Average management tenure


CEO

Fabian Dee (56yo)

7.9yrs

Tenure

0

Mr. Fabian S. Dee has been the President of Metropolitan Bank & Trust Company since April 25, 2012. Mr. Dee is a seasoned banker with close to 30 years of experience in treasury, corporate banking and reta ...


Management Age and Tenure

10.8yrs

Average Tenure

60.5yo

Average Age

Experienced Management: MTPO.F's management team is seasoned and experienced (10.8 years average tenure).


Board Age and Tenure

7.9yrs

Average Tenure

67yo

Average Age

Experienced Board: MTPO.F's board of directors are considered experienced (7.9 years average tenure).


Insider Trading

Insider Buying: MTPO.F insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$3,86410 Oct 19
Angelica Reyes
EntityIndividual
Shares3,333.5
Max PriceUS$1.16
BuyUS$55527 Sep 19
Vicente Cuna
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Executive Director
Shares490.42
Max PriceUS$1.14
BuyUS$3,647,65018 Sep 19
Grand Titan Capital Holdings, Inc.
EntityCompany
Shares3,073,396.6
Max PriceUS$1.20
BuyUS$5,395,62316 Sep 19
Grand Titan Capital Holdings, Inc.
EntityCompany
Shares4,542,283.6
Max PriceUS$1.19
BuyUS$585,93511 Sep 19
Grand Titan Capital Holdings, Inc.
EntityCompany
Shares491,086.7
Max PriceUS$1.19
BuyUS$1,829,76720 Aug 19
Grand Titan Capital Holdings, Inc.
EntityCompany
Shares1,556,292.5
Max PriceUS$1.18
BuyUS$13,90501 Jul 19
Fernand Antonio Tansingco
EntityIndividual
Shares11,300
Max PriceUS$1.23
SellUS$188,74326 Mar 19
Grand Estate Property Corporation
EntityCompany
Shares137,306.3
Max PriceUS$1.38
BuyUS$439,54008 Mar 19
Francisco Sebastian
EntityIndividual
Role
Vice Chairman
Vice Chairman of the Board
Shares339,000
Max PriceUS$1.30
SellUS$187,31201 Mar 19
Grand Estate Property Corporation
EntityCompany
Shares134,187.5
Max PriceUS$1.40
BuyUS$20,59722 Feb 19
Grand Estate Property Corporation
EntityCompany
Shares14,791.7
Max PriceUS$1.39
BuyUS$359,09219 Feb 19
Grand Estate Property Corporation
EntityCompany
Shares257,481.8
Max PriceUS$1.39
SellUS$796,90714 Feb 19
Grand Estate Property Corporation
EntityCompany
Shares565,339
Max PriceUS$1.42
SellUS$1,070,81911 Feb 19
Grand Estate Property Corporation
EntityCompany
Shares757,100
Max PriceUS$1.42
SellUS$752,53504 Feb 19
82 Alpha Holdings corporation
EntityCompany
Shares531,100
Max PriceUS$1.43
SellUS$80,55608 Jan 19
Francisco Sebastian
EntityIndividual
Role
Vice Chairman
Vice Chairman of the Board
Shares56,500
Max PriceUS$1.43
SellUS$152,57227 Dec 18
Francisco Sebastian
EntityIndividual
Role
Vice Chairman
Vice Chairman of the Board
Shares113,000
Max PriceUS$1.35

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.3%.


Management Team

  • Francisco Sebastian (65yo)

    Vice Chairman of the Board

    • Tenure: 13.6yrs
  • Aniceto Sobrepeña (65yo)

    Executive Vice-President

    • Tenure: 13.6yrs
  • Joshua Naing (58yo)

    Head of the Financial & Control Sector and Senior EVP

    • Tenure: 6.1yrs
  • Eligio Labog (63yo)

    Head of Commercial Banking Group and Executive Vice President

    • Tenure: 14.9yrs
  • Amelin Yao (65yo)

    Head of Commercial Banking Center & Executive VP

    • Tenure: 13.9yrs
  • Fabian Dee (56yo)

    President & Executive Director

    • Tenure: 7.9yrs
  • Vivian Lee-Tiu (58yo)

    Head of Human Resources Management Group & Executive VP

    • Tenure: 18.9yrs
  • Paul Y. Murga (53yo)

    Executive VP & Head of Operations Group

    • Tenure: 5.8yrs
  • Jette Gamboa

    Senior VP

    • Tenure: 0.7yrs
  • Donato Espino

    Head of Compliance Division

    • Tenure: 0yrs

Board Members

  • Arthur Ty (53yo)

    Chairman of the Board

    • Tenure: 7.9yrs
  • Francisco Sebastian (65yo)

    Vice Chairman of the Board

    • Tenure: 13.6yrs
  • Placido Mapa (86yo)

    Senior Adviser

    • Tenure: 0yrs
  • Edmund Go (69yo)

    Non-Executive Director

    • Tenure: 12.6yrs
  • Fabian Dee (56yo)

    President & Executive Director

    • Tenure: 7.9yrs
  • Francisco del Rosario (72yo)

    Independent DIrector

    • Tenure: 8.9yrs
  • Vicente Cuna (57yo)

    Senior EVP & Executive Director

    • Tenure: 5.7yrs
  • Jesli Lapus (69yo)

    Independent Director

    • Tenure: 9.3yrs
  • Ed Chua (62yo)

    Independent Director

    • Tenure: 2.7yrs
  • Rex Drilon (72yo)

    Independent Director

    • Tenure: 7.3yrs

Company Information

Metropolitan Bank & Trust Company's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Metropolitan Bank & Trust Company
  • Ticker: MTPO.F
  • Exchange: OTCPK
  • Founded: 1962
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₱301.265b
  • Listing Market Cap: ₱5.937b
  • Shares outstanding: 4.50b
  • Website: https://www.metrobank.com.ph

Location

  • Metropolitan Bank & Trust Company
  • Metrobank Plaza
  • Sen. Gil Puyat Avenue
  • Makati City
  • 1200
  • Philippines

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MBTPSE (Philippines Stock Exchange)YesCommon SharesPHPHPJan 1992
MTPO.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1992
MTPO.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDJan 2009

Biography

Metropolitan Bank & Trust Company, together with its subsidiaries, provides various commercial and investment banking products and services in the Philippines and internationally. The company’s Consumer Ba ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/11 00:14
End of Day Share Price2019/09/12 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.