Why Metropolitan Bank Holding Corp. Stock Is Up Big Today
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.
Source Fool.com
