- Metropolitan Bank Holding focuses on the New York metropolitan area, but serves important crypto and fintech customers.
- Its balance sheet is growing at an impressive rate, which translates into strong earnings growth.
- The recent capital raise strengthens the balance sheet and the capital ratios, and allows MCB to further scale up its business.
- Thanks to its strong growth profile, the current valuation of about 15X 2022 EPS and 1.8X book value is not egregious, but I'm waiting for a dip.
For further details see:
Metropolitan Bank Beefed Up Its Balance Sheet With A $173 Million Capital Raise