Why Metropolitan Bank Stock Sank by Nearly 9% Today
The bank missed on both revenue and profitability with its second-quarter results.
Overview
Wednesday's trading session was one to forget for Metropolitan Bank (NYSE: MCB) investors. The New York-based lender took the wraps off its second-quarter results and, since they fell short of expectations, market players sold out of its stock. The shares closed the day down by almost 9%.
For the quarter, Metropolitan's total revenue was slightly over $93 million, well up from $76.3 million in the same period of 2025. Net income under generally accepted accounting principles (GAAP) also rose, albeit not as robustly, by 2% year over year to $19.2 million ($1.54 per share).
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.