Metropolitan Bank Holding Stock (NYSE: MCB)

Dernières nouvelles pour Metropolitan Bank Holding (NYSE:MCB) Stock

Metropolitan Bank Holding

Metropolitan Bank Holding Corp is a bank holding company. It provides a broad range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area. The services provided by the company include deposits, trade finance, cash management solutions, savings, electronic banking, cards, and others. The company also provides various lending products such as acquisition loans, construction loans, and lines of credit, for retail, office, hospitality, multifamily, mixed-use, warehouse and distribution, and specialty-use properties. The bank derives its revenue in the form of interest income on loans.

Metropolitan Bank Holding Corp. Common Stock

Metropolitan Bank Holding Corp

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

Metropolitan Bank shares are trading higher after the company reported better-than-expected Q3 financial results.

Earnings

Earnings Beats

News

Metropolitan Bank Holding Q3 2024 Adj EPS $1.86 Beats $1.55 Estimate, Sales $71.52M Beat $66.73M Estimate

Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is preparing to release its quarterly earnings on Thursday, 2024-10-17. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Metropolitan Bank Holding to report an earnings per share (EPS) of $1.55.
Anticipation surrounds Metropolitan Bank Holding's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Past Earnings Performance</h3>
During the last quarter, the company reported an EPS missed by $0.07, leading to a 3.17% increase in the share price on the subsequent day.
Here's a look at Metropolitan Bank Holding's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.57</td>
<td>1.34</td>
<td>1.48</td>
<td>1.63</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.50</td>
<td>1.46</td>
<td>1.28</td>
<td>1.97</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>18.0%</td>
<td>-2.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729094486_0.png" alt="eps graph" />
<h3>Metropolitan Bank Holding Share Price Analysis</h3>
Shares of Metropolitan Bank Holding were trading at $58.99 as of October 15. Over the last 52-week period, shares are up 86.48%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MCB/earnings">To track all earnings releases for Metropolitan Bank Holding visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What to Expect from Metropolitan Bank Holding's Earnings

Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is set to give its latest quarterly earnings report on Thursday, 2024-07-18. Here's what investors need to know before the announcement.
Analysts estimate that Metropolitan Bank Holding will report an earnings per share (EPS) of $1.57. 
Anticipation surrounds Metropolitan Bank Holding's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Past Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.12, leading to a 18.01% increase in the share price on the subsequent day.
Here's a look at Metropolitan Bank Holding's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.57</td>
<td>1.34</td>
<td>1.48</td>
<td>1.63</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.50</td>
<td>1.46</td>
<td>1.28</td>
<td>1.97</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>18.0%</td>
<td>-2.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1728568867_0.png" alt="eps graph" />
<a href="https://www.benzinga.com/quote/MCB/earnings">To track all earnings releases for Metropolitan Bank Holding visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Metropolitan Bank Holding Earnings Preview

The Federal Reserve's decision to reduce interest rates by 50 basis points on Wednesday has set the stage for a notable shift, particularly in the banking sector among <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis">mid- and small-cap banks</a>.
With rates expected to drop further over the next two years, JPMorgan analyst Steven Alexopoulos believes this marks a crucial inflection point. This and further cuts should help boost banks' net interest margins (NIMs) while reigniting commercial loan demand. The steepening yield curve and easing credit concerns will help banks recalibrate deposit costs, improving performance across various segments.
Let's break down the investment opportunities among large-cap, mid-cap, and small-cap banks, as outlined by Alexopoulos.
<h2 class="wp-block-heading">Large-Cap Banks: Poised For Growth</h2>
<h4 class="wp-block-heading">First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>)</h4>
First Citizens stands out with its SVB segment likely to benefit from the Fed's cuts. With lower rates, the company expects a resurgence in venture capital (VC) investment and IPO activity. This should bolster its sizable SVB loans and deposits. Trading at a discount to peers, this stock offers a compelling value. Alexopoulos also sees potential for significant multiple expansion as the market re-rates it.
<h4 class="wp-block-heading">Huntington Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>)</h4>
Huntington positions itself to take advantage of improving commercial and industrial (C&amp;I) loan demand by aggressively hiring bankers in growth markets like the Carolinas and Texas. As the Fed eases, the bank anticipates accelerated earnings, strong loan growth, and a solidified position in the sector.
<h4 class="wp-block-heading">M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</h4>
As the Fed eases, M&amp;T's criticized loans should see an improvement in credit quality, particularly in the commercial real estate (CRE) sector. This will likely reduce the bank's need for high reserve levels and allow for increased buybacks. The analyst says that trading below its historical valuation, M&amp;T offers an opportunity for re-rating as the economic outlook brightens.
Don't miss out on this unparalleled opportunity:
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</ul>
<h2 class="wp-block-heading">Mid-Cap Banks: Reaping The Benefits Of Lower Rates</h2>
<h4 class="wp-block-heading">Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</h4>
Western Alliance will benefit from the lower rate environment, seizing opportunities to reduce deposit costs and ease credit concerns. According to Alexopoulos, its exposure to the startup economy and capital call lending positions it well to take advantage of a potential resurgence in venture capital and IPO markets, making it a standout mid-cap pick.
<h4 class="wp-block-heading">Pinnacle Financial Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</h4>
Pinnacle plans to lower its high deposit rates, boosting net interest income (NII). The analyst says Pinnacle operates in high-growth markets in the Southeast and sports above-peer loan growth. This, combined with easing concerns around credit quality, makes it an attractive investment as the Fed continues its rate cuts.
<h4 class="wp-block-heading">Cullen/Frost Bankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>)</h4>
Despite its asset-sensitive balance sheet, Cullen/Frost will benefit from the Fed's cuts by focusing on organic expansion in Texas's fastest-growing cities. The potential for improved loan demand, especially in commercial real estate, should drive outsized growth. Alexopoulos sees this as presenting a revaluation opportunity for the stock.
<h2 class="wp-block-heading">Small-Cap Banks: Ready For Resurgence</h2>
<h4 class="wp-block-heading">Live Oak Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NASDAQ">LOB</a>)</h4>
Live Oak, with most of its deposits in market-rate accounts, expects a significant reset in funding costs as rates decline. This niche growth bank plans to lead loan growth by capitalizing on improved borrower demand as borrowing cost uncertainty diminishes.
<h4 class="wp-block-heading">Metropolitan Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</h4>
Metropolitan stands to benefit from easing concerns around its CRE loans, with the Fed's cuts reducing fears about credit quality. The bank's unique focus on niche sectors and proactive credit management positions it well for an economic rebound.
<h4 class="wp-block-heading">Amalgamated Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>)</h4>
Amalgamated, a smaller player exposed to high credit risk profiles, will improve as rates decline. The bank's focus on social impact banking combined with a favorable rate environment should alleviate concerns around credit stress. Alexopoulos sees this as providing room for upside in its share price.
As the Fed signals further easing, banks across segments will capitalize on improving economic conditions, rising loan demand, and a recalibration of deposit costs. With the runway for a soft landing widened, now is a compelling time to consider these names for your portfolio.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40919822/small-cap-sectors-brace-for-fed-rate-cut-financials-real-estate-etfs-offer-compelling-plays-for-inve">Small-Cap Sectors Brace For Fed Rate Cut: Financials, Real Estate ETFs Offer Compelling Plays For Investors</a></li>
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Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you're a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
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Long Ideas

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Analyst Ratings

Trading Ideas

HBAN

PNFP

Bank Stocks Hit Inflection Point After Fed's 50 Basis Point Cut, Analyst Reveals Top Picks

JP Morgan analyst Steven Alexopoulos maintains Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) with a Overweight and raises the price target from $55 to $70.

Price Target

JP Morgan Maintains Overweight on Metropolitan Bank Holding, Raises Price Target to $70

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell reiterates Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) with a Outperform and raises the price target from $55 to $67.5.

Reiteration

Keefe, Bruyette & Woods Reiterates Outperform on Metropolitan Bank Holding, Raises Price Target to $67.5

Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) reported quarterly earnings of $1.50 per share which missed the analyst consensus estimate of $1.51 by 0.66 percent. This is a 9.49 percent increase over earnings of $1.37 per share from the same period last year. The company reported quarterly sales of $67.678 million which missed the analyst consensus estimate of $67.891 million by 0.31 percent. This is a 9.86 percent increase over sales of $61.606 million the same period last year.

Earnings Misses

Metropolitan Bank Holding Q2 2024 GAAP EPS $1.50 Misses $1.51 Estimate, Sales $67.678M Miss $67.891M Estimate

U.S. regional banks are experiencing sessions of significant gains, as growing expectations for interest rate cuts fueled an investor rotation from large-cap<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year"> to small-cap stocks.</a>
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) — a widely followed gauge for the industry — rallied as much as 4.5% on Tuesday, marking the strongest session since December 2023.
Notably, the recent five-day rally of nearly 15% was the strongest for regional banks since November 2020.
With Tuesday&#8217;s move, regional banks have effectively recouped all losses suffered after March 9, 2023, characterized by the failure of Silicon Valley Bank and Signature Bank.
&#8220;Lending conditions for commercial and industrial loans have eased substantially since last year's regional bank crisis. The net percentage of lenders reporting tightening lending standards has declined from the peak of 50% at the end of 2023 to 20% today for both small and large firms,&#8221; Goldman Sachs wrote in a recent note on regional banks.
<h1 class="wp-block-heading">Chart: Regional Banks Rebound To Pre-Silicon Valley Bank Collapse Levels</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="524" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1024x524.png" alt="" class="wp-image-439490" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1024x524.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-768x393.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25-1536x786.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16160726/image-25.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Benzinga pro</a>
<h1 class="wp-block-heading">Tuesday&#8217;s Top Performers Within Regional Banks</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td> 1-Day %</td>
</tr>
<tr>
<td>ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>)</td>
<td>12.53%</td>
</tr>
<tr>
<td>Mercantile Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NYSE">MBWM</a>)</td>
<td>12.06%</td>
</tr>
<tr>
<td>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>)</td>
<td>10.35%</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</td>
<td>10.00%</td>
</tr>
<tr>
<td>CrossFirst Bankshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFB#NASDAQ">CFB</a>)</td>
<td>9.66%</td>
</tr>
<tr>
<td>FB Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>)</td>
<td>8.04%</td>
</tr>
<tr>
<td>Peapack-Gladstone Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGC#NASDAQ">PGC</a>)</td>
<td>7.88%</td>
</tr>
</tbody>
</table>
</figure>
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39780995/rate-sensitive-cyclical-stocks-poised-for-rally-as-fed-prepares-to-cut-rates-were-o">Rate-Sensitive Cyclical Stocks Poised For Rally As Fed Prepares To Cut Rates: &#8216;We&#8217;re On The Path To Goldilocks,&#8217; Says Bank Of America</a></li>
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Photo: Shutterstock

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Small Cap

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MBWM

SFBS

Regional Bank Gains Hit Levels Unseen Since Silicon Valley Bank's Failure As Investor Sentiment Shifts To Small-Cap Names

PPBI

TBBK

Shares of banking stocks are trading higher amid sympathy with Bank of America after the company reported better-than-expected Q2 financial results.

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Shares of banking stocks are trading higher following recent CPI data.

Regional bank stocks, as represented by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), have experienced a noticeable rebound after recently hitting the <a href="https://www.benzinga.com/money/200-day-moving-average#:~:text=200%2DDay%20SMA%20Formula,-To%20calculate%20the&amp;text=The%20200%2Dday%20SMA%20is%20recalculated%20every%20day%20by%20adding,200%20to%20calculate%20the%20average.">200-day moving average support. </a>
This positive movement follows a series of strong earnings aQ1 2024 reports from sector players. 
Despite this uptick, the gauge still remains nearly 20% below its pre-March 2023 crisis level, a stark reminder of last year&#8217;s turmoil in the regional banking sector.
Chart: Regional Banks Rebound Off 200-Day Support Line
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-1024x495.png" alt="" class="wp-image-302555" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Analyst Insights And Key Stock Valuation </h3>
&#8220;Regional banks with strong deposit franchises are well-positioned in a structurally higher rate environment,&#8221; said Ebrahim H. Poonawala, a noted analyst from Bank of America. This sentiment reflects a broader industry expectation that Net Interest Income (NII) could recover this year, with credit losses remaining manageable. 
This forecast suggests a shifting investor attitude towards a &#8220;higher for longer&#8221; economic scenario.
Stock valuations among regional players are trading between hopes for a soft economic landing and pressures from sustained higher rates. 
Notably, large-cap regional banks are trading at a price-to-earnings (P/E) ratio of 9x for 2025, compared to a 5-year pre-pandemic median of 13.1x. 
This represents a 47% discount relative to the S&amp;P 500, which is a slight improvement from the previous 36% discount.
<h3 class="wp-block-heading">Standout Regional Bank Performers: Metropolitan Bank And Huntington Bancshares</h3>
Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) stands out as a top performer among regional banks, with shares rallying 14% over the last month. 
The bank reported a first-quarter 2024 core EPS of $1.51, surpassing expectations due to robust revenue and lower-than-expected provision expenses. 
JPMorgan Chase &amp; Co&#8217;s analyst Alex Lau believes that this success can be attributed to its effective handling of deposit gathering and concerns over New York City commercial real estate loans, which makes up about 70% of its total loan portfolio, with an additional 10% in multifamily loans. Given the current investor apprehensions, particularly regarding office spaces, a weakening in the commercial real estate market could potentially raise credit concerns within the bank&#8217;s portfolio.
For Metropolitan Bank Holding, the financial outlook for 2024 includes a projected loan growth between $600 million and $800 million, with the net interest margin (NIM) expected to be between 3.45% and 3.50% in the fourth quarter. 
Operating expenses for the year are anticipated to range from $160 million to $163 million, while fee income is estimated to fall between $19 million and $21 million. 
The provision for credit losses could range from $6 million to $8 million, with the potential to increase depending on the year&#8217;s credit conditions. 
Additionally, Lau has revised core earnings per share (EPS) estimates for Metropolitan Bank Holding, increasing the 2024 estimate from $5.77 to $6.12 and the 2025 estimate from $7.57 to $7.71.
JPMorgan Chase &amp; Co. currently holds an Overweight rating on MCB, with a $55 price target, implying a 30% potential upside from current levels. 
See Also: <a href="https://www.benzinga.com/insights/analyst-ratings/24/04/38092252/evaluating-metropolitan-bank-holding-insights-from-4-financial-analysts">Evaluating Metropolitan Bank Holding: Insights From 4 Financial Analysts</a>
Huntington Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NYSE">HBAN</a>) has also seen a positive performance, increasing by over 6% in 2024, marking one the strongest returns in relation to the industry this year. 
As recently stated by Goldman Sachs, the bank&#8217;s first-quarter results were solid, with core pre-provision net revenue (PPNR) exceeding expectations driven by higher net interest income (NII) and reduced expenses.
Reported earnings per share were 0.26, beating the expected 0.24, and revenue came in at $1.77 billion, surpassing the forecasted $1.74 billion. 
&#8220;We still see several reasons to remain positive on the story as HBAN is one of the biggest beneficiaries of fixed asset repricing across the regionals,&#8221; analyst Ryan M. Nash, CFA, wrote. 
Additionally, Huntington Bancshares&#8217;s credit metrics continue to outperform regional averages, with net charge-offs (NCOs) at approximately 30 basis points and non-performing loans (NPLs) slightly up by 3 basis points quarter-over-quarter to 58 basis points. 
Huntington Bancshares is also in a &#8220;strong capital position&#8221; and well prepared to either pursue growth opportunities or stock buybacks ahead of its competitors.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38356886/s-p-500-trades-at-two-month-low-where-is-the-next-support">S&amp;P 500 Trades At Two-Month Low: Where Is The Next Support?</a>
Image: Shutterstock

Large Cap

Regional Banks Surge: Earnings Propel Rebound From Key Support Level At 200-Day Average

U.S. stocks traded mixed toward the end of trading, with the Dow Jones gaining over 200 points on Friday.
The Dow traded up 0.55% to 37,984.19 while the NASDAQ fell 1.58% to 15,354.63. The S&amp;P 500 also fell, dropping, 0.60% to 4,980.82.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
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Leading and Lagging Sectors
Utilities shares climbed by 1.4% on Friday.
In trading on Friday, information technology shares fell by 2.1%.
Top Headline The total number of active U.S. oil rigs climbed by 5 to 511 rigs this week, Baker Hughes Inc reported.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) shares shot up 24% to $0.3001 after the company announced that it received an investment of $44 million to date from Ault &amp; Company under the November 2023 Securities Purchase Agreement.
Shares of Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) got a boost, surging 18% to $39.00 after the company reported better-than-expected first-quarter financial results.
Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares were also up, gaining 13% to $12.35 following reports suggesting Sony is in talks with Apollo to join a bid for the company.
Equities Trading DOWN
Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares dropped 20% to $744.30. The company announced its third-quarter earnings date and did not provide preliminary estimates as it did with the second quarter<a>.</a>
Shares of Netflix, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) were down 8% to $559.93. Netflix reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million.
O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) was down, falling 6% to $14.56. B of A Securities analyst George Staphos downgraded O-I Glass from Buy to Neutral and lowered the price target from $21 to $16.
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38332596/meta-platforms-pure-storage-and-2-other-stocks-insiders-are-selling">Meta Platforms, Pure Storage And 2 Other Stocks Insiders Are Selling </a>
Commodities In commodity news, oil traded up 0.6% to $83.22 while gold traded up 0.5% at $2,408.70.
Silver traded up 1.4% to $28.765 on Friday, while copper rose 1.4% to $4.4965.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 declined 0.08%, London's FTSE 100 rose 0.24% while Spain's IBEX 35 Index declined 0.33% The German DAX fell 0.56% French CAC 40 fell 0.01% while Italy's FTSE MIB Index rose 0.12%.
Spain&#8217;s trade gap narrowed to EUR 2.4 billion in February from EUR 2.5 billion in the year-ago month, while Spain&#8217;s consumer confidence indicator climbed to 82.5 in March from 78.5 in February.
Producer prices in Germany fell by 2.9% year-over-year in March compared to a 4.1% decline in the prior month, while retail sales volumes in the UK came in flat for March.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 dipping 2.66%, Hong Kong's Hang Seng Index falling 0.99%, China's Shanghai Composite falling 0.29% and India's S&amp;P BSE Sensex gaining 0.83%.
Foreign direct investment into China declined by 26.1% year-over-year to CNY 301.67 billion in the first quarter. The business confidence indicator in Hong Kong rose to +2 in the second quarter of from +1 in the prior three-month period. The core consumer price index in Japan increased 2.6% year-over-year in March from 2.8% in February.
Economics
The total number of active U.S. oil rigs climbed by 5 to 511 rigs this week, Baker Hughes Inc reported.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38333390/how-to-earn-500-a-month-from-innovative-industrial-properties-stock">How To Earn $500 A Month From Innovative Industrial Properties Stock</a>

Eurozone

Commodities

Intraday Update

Markets

Movers

AULT

NFLX

PARA

SMCI

Crude Oil Moves Higher; Paramount Global Shares Surge

Shares of Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) fell sharply <a href="https://www.benzinga.com/quote/SMCI/earnings">during Friday's session</a>.
The company announced its third-quarter earnings date and did not provide preliminary estimates as it did with the second quarter.
Super Micro Computer shares dipped 13.2% to $806.00 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Next.e.GO N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGOX#NASDAQ">EGOX</a>) shares jumped 129% to $0.0817.</li>
<li>Redwoods Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RWOD#NASDAQ">RWOD</a>) shares rose 62.5% to $12.03 after falling around 3% on Thursday.</li>
<li>Zhongchao Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCMD#NASDAQ">ZCMD</a>) gained 50% to $2.16 after gaining over 7% on Thursday.</li>
<li>Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) surged 46% to $0.3544 after the company announced that it received an investment of $44 million to date from Ault &amp; Company under the November 2023 Securities Purchase Agreement.</li>
<li>Nova LifeStyle, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVFY#NASDAQ">NVFY</a>) rose 31% to $2.77.</li>
<li>AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) gained 24.3% to $0.0817 on continued upward momentum after the company announced it entered into a definitive merger agreement with Triller.</li>
<li>Brenmiller Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) surged 21.4% to $2.50.</li>
<li>WiSA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WISA#NASDAQ">WISA</a>) rose 21.2% to $7.14.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) climbed 20.2% to $24.53.</li>
<li>Marti Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRT#NYSE">MRT</a>) surged 19% to $1.8450.</li>
<li>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) gained 19% to $39.40 after the company reported better-than-expected first-quarter financial results.</li>
<li>Top Wealth Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWG#NASDAQ">TWG</a>) gained 19% to $2.21. Top Wealth Group successfully closed IPO, raising $8 million.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) jumped 17.2% to $6.13.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) gained 16.4% to $0.3817. The company on Wednesday announced it entered into a securities purchase agreement with an institutional investor in the amount of $360,000.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) gained 16.3% to $0.2792. SuperCom shares fell around 33% on Thursday after the company priced a $2.9 million registered direct offering.</li>
<li>Chromocell Therapeutics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NASDAQ">CHRO</a>) rose 15.9% to $1.42.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) rose 12.2% to $4.03.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares gained 9.7% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) rose 7.8% to $0.4172.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) gained 4.8% to $3.0589. Wedbush, on Thursday, slashed its price target on the stock to $4 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Sunshine Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) shares fell 37.1% to $2.09. Sunshine Biopharma&#8217;s Nora Pharma received Health Canada approval for Niopeg.</li>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) fell 27.3% to $0.3050 after gaining around 98% on Thursday.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGLC#NASDAQ">BGLC</a>) fell 23.4% to $0.65 after jumping around 29% on Thursday. BioNexus Gene Lab agreed to invest RM 1.2 million in Ascension Innovation (AISB) to advance digital health innovation through AI adoption in healthcare.</li>
<li>Golden Sun Health Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSUN#NASDAQ">GSUN</a>) dipped 21.4% to $3.85.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) fell 20% to $1.67.</li>
<li>Tian Ruixiang Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIRX#NASDAQ">TIRX</a>) fell 20% to $0.6401 after surging 65% on Thursday.</li>
<li>Bit Origin Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTOG#NASDAQ">BTOG</a>) fell 19.1% to $2.41.</li>
<li>Virgin Galactic Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NASDAQ">SPCE</a>) dipped 17% to $0.8019.</li>
<li>SeaStar Medical Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICU#NASDAQ">ICU</a>) fell 16.7% to $0.45. SeaStar Medical recently reported worse-than-expected quarterly financial results.</li>
<li>Tevogen Bio Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>) fell 15.5% to $1.79.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) fell 14.2% to $2.53 after jumping around 32% on Thursday.    </li>
<li>Ocular Therapeutix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) fell 11% to $5.22. HC Wainwright &amp; Co. analyst Yi Chen reiterated Ocular Therapeutix with a Buy and maintained a $16 price target.</li>
<li>Skye Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYE#NASDAQ">SKYE</a>) fell 9.8% to $15.16.</li>
<li>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) fell 7% to $567.78. Netflix reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell 6.4% to $14.41. B of A Securities analyst George Staphos downgraded O-I Glass from Buy to Neutral and lowered the price target from $21 to $16.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) fell 4.4% to $276.45.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38334217/netflix-to-rally-around-31-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday</a>

AGBA

BGLC

BNRG

BTOG

CHRO

EGOX

GSUN

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

HUMA

ISPC

MNDR

NVFY

Next Technology Holding Inc. - Ordinary Shares

NXTT

OCUL

RWOD

SBFM

SKYE

SPCB

SPCE

SPOT

TELL

TIRX

TPET

TVGN

WISA

Connexa Sports Technologies Inc. - Common Stock

YYAI

ZCMD

Why Super Micro Computer Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Friday's Mid-Day Session

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling over 150 points on Friday.
The Dow traded up 0.43% to 37,938.78 while the NASDAQ fell 1.20% to 15,414.32. The S&amp;P 500 also fell, dropping, 0.43% to 4,989.44&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
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Leading and Lagging Sectors Energy shares climbed by 1.5% on Friday.
In trading on Friday, communication services shares fell by1.2%.
Top Headline 
Procter &amp; Gamble Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) fell around 8% during Friday's session following first-quarter results.
Procter &amp; Gamble reported third-quarter FY24 sales growth of 1% year-on-year to $20.195 billion, missing the analyst consensus estimate of $20.408 billion. Adjusted EPS of $1.52 beat the consensus estimate of $1.41.
P&amp;G maintained its guidance range for FY24 organic sales growth of 4%-5% and all-in sales growth of 2%-4%. P&amp;G raised its FY24 EPS growth outlook from -1% to inline to a range of 1% to 2% versus FY23 EPS of $5.90.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) shares shot up 25% to $0.3036 after the company announced that it received an investment of $44 million to date from Ault &amp; Company under the November 2023 Securities Purchase Agreement.
Shares of Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) got a boost, surging 17% to $38.69 after the company reported better-than-expected first-quarter financial results.
Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares were also up, gaining 10% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.
Equities Trading DOWN
Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares dropped 13% to $803.96. The company announced its third-quarter earnings date and did not provide preliminary estimates as it did with the second quarter.
Shares of Netflix, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) were down 7% to $568.27. Netflix reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million.
O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) was down, falling 6% to $14.51. B of A Securities analyst George Staphos downgraded O-I Glass from Buy to Neutral and lowered the price target from $21 to $16.
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Commodities In commodity news, oil traded up 0.5% to $83.15 while gold traded up 0.1% at $2,401.40.
Silver traded up 0.4% to $28.49 on Friday, while copper rose 1.3% to $4.4940.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 declined 0.13%, London's FTSE 100 rose 0.01% while Spain's IBEX 35 Index declined 0.34% The German DAX fell 0.57% French CAC 40 rose 0.06% while Italy's FTSE MIB Index rose 0.04%.
Spain&#8217;s trade gap narrowed to EUR 2.4 billion in February from EUR 2.5 billion in the year-ago month, while Spain&#8217;s consumer confidence indicator climbed to 82.5 in March from 78.5 in February.
Producer prices in Germany fell by 2.9% year-over-year in March compared to a 4.1% decline in the prior month, while retail sales volumes in the UK came in flat for March.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 dipping 2.66%, Hong Kong's Hang Seng Index falling 0.99%, China's Shanghai Composite falling 0.29% and India's S&amp;P BSE Sensex gaining 0.83%.
Foreign direct investment into China declined by 26.1% year-over-year to CNY 301.67 billion in the first quarter. The business confidence indicator in Hong Kong rose to +2 in the second quarter of from +1 in the prior three-month period. The core consumer price index in Japan increased 2.6% year-over-year in March from 2.8% in February.
Economics
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
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Nasdaq Down Over 1%; Procter & Gamble Raises Profit Forecast

Metropolitan Bank Holding shares are trading higher after the company reported better-than-expected Q1 financial results.

U.S. stocks were mixed, with the Nasdaq Composite falling over 100 points on Friday.
Shares of Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) rose during Friday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/FITB/earnings">quarterly financial results</a>.
Fifth Third Bancorp posted adjusted earnings of 76 cents per share, beating market estimates of 70 cents per share. The company's sales came in at $2.100 billion versus expectations of $2.086 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Fifth Third Bancorp shares gained 4.2% to $35.67 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) shares jumped 20.2% to $24.53.</li>
<li>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) rose 19% to $39.40 after the company reported better-than-expected first-quarter financial results.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) climbed 12.2% to $4.03.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares rose 9.7% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.</li>
<li>Cohen &amp; Steers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) gained 8.1% to $71.48 after it was announced the stock will join the S&amp;P SmallCap 600.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) shares jumped 7.8% to $0.4172.</li>
<li>Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) gained 6.6% to $13.75. Alvotech inked a long-term agreement with a strategic partner to further enhance access to Adalimumab-ryvk in the US market.</li>
<li>Bar Harbor Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHB#NYSE">BHB</a>) climbed 5.6% to $25.20 following upbeat quarterly earnings.</li>
<li>Nuvation Bio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUVB#NYSE">NUVB</a>) rose 5.2% to $2.7150.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) shares rose 4.8% to $3.0589. Wedbush, on Thursday, slashed its price target on the stock to $4 on Thursday.</li>
<li>Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) gained 4.7% to $2.9099. Community Health Systems announced an agreement to sell Cleveland, Tennessee, Hospital to Hamilton Health Care System for $160 million in cash.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38334217/netflix-to-rally-around-31-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday</a>

Fifth Third Bancorp Reports Upbeat Earnings, Joins Metropolitan Bank Holding, Paramount Global And Other Big Stocks Moving Higher On Friday

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