Metropolitan Bank Holding Corp. (MCB) Earnings Expected to Grow: Should You Buy?

Core Viewpoint - Metropolitan Bank Holding Corp. (MCB) is anticipated to report a year-over-year increase in earnings driven by higher revenues for the quarter ended June 2024, with actual results being a significant factor influencing its near-term stock price [1]. Earnings Expectations - The company is expected to post quarterly earnings of $1.57 per share, reflecting a year-over-year change of +14.6% [2]. - Revenues are projected to be $68.02 million, representing a 10.4% increase from the same quarter last year [4]. Analyst Insights - The consensus EPS estimate has been revised 0.65% lower over the last 30 days, indicating a reassessment by covering analysts [4]. - The Most Accurate Estimate for MCB is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +5.73%, suggesting a more optimistic outlook from analysts [16]. Historical Performance - In the last reported quarter, MCB was expected to earn $1.28 per share but exceeded expectations with earnings of $1.46, achieving a surprise of +14.06% [8]. - Over the past four quarters, MCB has beaten consensus EPS estimates two times [19]. Market Context - The earnings report is scheduled for release on July 18, 2024, and could influence the stock's movement depending on whether the results meet or exceed expectations [12]. - The company currently holds a Zacks Rank of 5, indicating a less favorable outlook compared to other stocks [7].