Metropolitan Bank
Runs commercial lending and specialty deposits for New York's middle market from a lean branch footprint.
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Profile
A New York City commercial bank built on niche deposit relationships — municipalities, property managers, bankruptcy trustees, title and escrow agents, and EB-5 program funds — funding loans concentrated in commercial real estate, with a large share tied to healthcare and skilled-nursing facilities. Handful of banking centers, large balance sheet relative to headcount.
Founded in 1999 to serve middle-market companies and real-estate entrepreneurs the founders felt the largest banks overlooked, the bank pairs commercial and industrial lending with commercial real estate loans concentrated in healthcare and skilled-nursing properties.
Deposits lean on specialty verticals rather than a broad retail network: municipalities, property managers, bankruptcy trustees, title and escrow agents, and EB-5 investor-visa escrow accounts. That mix lets a small staff run a large balance sheet from a handful of banking centers in Manhattan, Brooklyn and Long Island, with an early-stage push into Florida.
Regulators fined the bank over anti-money-laundering lapses tied to a third-party prepaid-card program; the board answered by exiting crypto-asset banking in 2023 and winding down remaining Banking-as-a-Service partnerships the next year.
Mark R. DeFazio, one of the founders, has led the bank as President and CEO since it opened its doors.
Company facts
Categories
Key statistics
Year to date +19.5% · Average volume (30d) 141.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 28, 2026 | UBS | Reiterate | Neutral | $97 | $100 |
| Apr 16, 2026 | UBS | Target | $97 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 21, 2026Q2 FY26 | $2.30 | $1.54 | −33.0% | $93.4M | $93.0M | −0.4% | −8.96% |
| Apr 21, 2026Q1 FY26 | $2.31 | $2.92 | +26.4% | $87.2M | $88.5M | +1.4% | −1.37% |
| Jan 20, 2026Q4 FY25 | $2.20 | $2.77 | +25.9% | $83.2M | $88.4M | +6.3% | +13.91% |
| Oct 23, 2025Q3 FY25 | $2.08 | $0.67 | −67.8% | $78.3M | $79.8M | +2.0% | −4.84% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $122.4M | $129.7M | $134.5M | $140.5M | $137.5M | $6.9M | |
| Gross profit | $66.1M | $69.9M | $56.0M | $85.6M | $90.8M | −$39.8M | |
| Operating income | $23.4M | $26.8M | $10.2M | $41.2M | $44.4M | −$44.4M | |
| Net income | $16.4M | $18.8M | $7.1M | $28.9M | $31.4M | $19.2M | |
| Diluted EPS | $1.45 | $1.76 | $0.67 | $2.77 | $2.92 | $1.54 | |
| Gross margin | 54.0% | 53.9% | 41.6% | 60.9% | 66.0% | -572.5% | |
| Operating margin | 19.1% | 20.7% | 7.6% | 29.3% | 32.3% | -638.9% |
Fiscal years (4-quarter sums)FY21 $197.0M · FY22 $287.3M · FY23 $403.3M · FY24 $492.2M · FY25 $527.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $10.3M · Total debt $36.6M · Total assets $8.86B · Shareholders' equity $968.2M
Dividends
Last raised to $0.35 from $0.25 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 31, 2026 | Jul 31 | Aug 11 | $0.35 | raised from $0.25 |
| May 1, 2026 | May 1 | May 12 | $0.25 | raised from $0.20 |
| Jan 27, 2026 | Jan 27 | Feb 6 | $0.20 | raised from $0.15 |
| Oct 30, 2025 | Oct 30 | Nov 14 | $0.15 | |
| Jul 28, 2025 | Jul 28 | Aug 11 | $0.15 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 12.40M · Float 10.83M · 87.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.21M | 9.75% | 13F | Aug 7, 2026 |
| Wellington Management Group LLP | 1.02M | 8.25% | 13F | Aug 14, 2026 |
| Patriot Financial Partners GP Ii, L.P. | 664.9K | 5.36% | 13F | Aug 13, 2026 |
| Adage Capital Partners GP, L.L.C. | 525.4K | 4.24% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 512.5K | 4.13% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Robert C. Patent | director | −10,000 | $92.29 |
| Jul 23, 2026 | Daniel F. Dougherty | officer: EVP & Chief Financial Officer | +1,000 | $89.98 |
| Jul 1, 2026 | Nick Rosenberg | officer: Executive Vice President | −1,807 | $100.43 |
| Jun 30, 2026 | Nick Rosenberg | officer: Executive Vice President | −90 | $100.03 |
| Jun 29, 2026 | Nick Rosenberg | officer: Executive Vice President | −90 | $100.06 |
Peers
- Dime Commercial Bancshares
Direct NYC-metro CRE, multifamily, and C&I lending overlap at similar scale.
- Flagstar Bank
Much larger NYC-metro bank, formerly NYCB, with a legacy multifamily CRE book.
- Valley National Bancorp
NJ-based super-regional bank spanning NY/NJ/FL/AL with heavy CRE and C&I books.
- ConnectOne Bancorp
NJ/NY relationship bank serving middle-market and CRE clients in NYC metro.
- Customers Bancorp
Northeast/Manhattan commercial bank with specialty deposits and CRE lending.
- Preferred Bank
LA-based specialty commercial bank with lean CRE and relationship-deposit model.
- Northeast Bank
Maine bank running a nationwide purchased/originated CRE loan platform.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Metropolitan Bank | $91.79 | −0.20% | $1.14B | 11.6 | 9.0 | 2.7 | +22.0% |
| Dime Commercial Bancshares | $40.47 | −0.02% | $1.79B | 14.6 | 10.7 | 2.4 | +17.1% |
| Flagstar Bank | $13.45 | +0.04% | $5.61B | 723.1 | 17.4 | 1.3 | +4.0% |
| Valley National Bancorp | $13.92 | 0.00% | $7.71B | 11.6 | 9.8 | 2.6 | +13.3% |
| ConnectOne Bancorp | $31.73 | 0.00% | $1.60B | 9.9 | 9.1 | 2.6 | +46.0% |
| Customers Bancorp | $78.58 | 0.00% | $2.66B | 9.6 | 8.7 | 1.8 | +12.4% |
| Preferred Bank | $103.53 | +0.15% | $1.23B | 9.5 | 9.6 | 2.4 | +4.0% |
| Northeast Bank | $129.23 | −0.15% | $1.07B | 10.2 | 8.8 | 2.8 | +4.1% |
| Median | 10.2 | 9.6 | 2.4 | +12.4% |