MCB - Why Metropolitan Bank Holding Corp. Stock Is Up Big Today
2024-04-19 12:29:20 ET
Investors concerned that the issues plaguing New York Community Bancorp would bleed into neighboring institutions had to be encouraged by the latest results of Metropolitan Bank Holdings Corp. (NYSE: MCB) .
Shares of the New York-based commercial bank had soared 19% as of 11 a.m. ET after Metropolitan easily exceeded Wall Street expectations in its first-quarter earnings release Thursday.
The New York banking market has been in the spotlight for all the wrong reasons in 2024. A near-death experience at New York Community has investors on edge about a potential bank run there or at other institutions in region, putting pressure on bank stocks .
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Why Metropolitan Bank Holding Corp. Stock Is Up Big Today