Metropolitan Bank price target raised to $380 from $305 at Baird

Baird raised the firm’s price target on Metropolitan Bank (MCB) to $380 from $305 and keeps an Outperform rating on the shares. The firm previewed its quarterly results and expects solid FQ3 results, including modest upside to revenue and margins; likely in the neighborhood of FQ1/FQ2’s 300bps beat range, and a likely modest full-year increase.