Metropolitan Bank Shares Jump 15% On Improved Quarterly Results

Shares of Metropolitan Bank Holding Corp. (MCB) are rising more than 15% Wednesday morning following improved first-quarter results.

The company reported net income of $25.08 million, or $2.25 per share for the first quarter, higher than $19.02 million, or $1.69 per share, for the same quarter a year ago.

Quarterly revenue increased to $65.51 million from $54.06 million last year. Net interest income was $58.5 million, an increase of 25.5%.

MCB, currently at $35.42, has been trading in the range of $13.98-$104.84 in the last 1 year.

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