Metropolitan Bank Holding Corp. (NYSE:MCB) to Issue Dividend Increase – $0.20 Per Share

Metropolitan Bank Holding Corp. (NYSE:MCB) announced a quarterly dividend on Friday, January 16th. Shareholders of record on Tuesday, January 27th will be given a dividend of 0.20 per share on Friday, February 6th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, January 27th. This is a 33.3% increase from Metropolitan Bank’s previous quarterly dividend of $0.15.

Metropolitan Bank Price Performance

Shares of NYSE MCB opened at $89.60 on Friday. The firm has a market capitalization of $922.90 million, a P/E ratio of 13.47 and a beta of 1.13. The firm’s 50-day moving average price is $78.33 and its 200-day moving average price is $75.51. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Metropolitan Bank has a 1-year low of $47.08 and a 1-year high of $96.75.

Metropolitan Bank (NYSE:MCB) last issued its earnings results on Tuesday, January 20th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.70. Metropolitan Bank had a return on equity of 9.73% and a net margin of 13.49%.The business had revenue of $88.41 million during the quarter, compared to analyst estimates of $83.15 million. Equities research analysts anticipate that Metropolitan Bank will post 7.31 earnings per share for the current fiscal year.

Insider Activity at Metropolitan Bank

In related news, CFO Daniel F. Dougherty purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average price of $71.66 per share, for a total transaction of $71,660.00. Following the completion of the acquisition, the chief financial officer owned 27,341 shares of the company’s stock, valued at $1,959,256.06. This represents a 3.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $90.21, for a total value of $112,762.50. Following the completion of the sale, the executive vice president directly owned 25,839 shares of the company’s stock, valued at $2,330,936.19. The trade was a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders bought 1,167 shares of company stock valued at $83,010. Company insiders own 6.09% of the company’s stock.

Hedge Funds Weigh In On Metropolitan Bank

A number of hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of Metropolitan Bank in the 3rd quarter worth $31,000. Quarry LP purchased a new position in Metropolitan Bank during the third quarter worth about $48,000. Tower Research Capital LLC TRC grew its position in Metropolitan Bank by 41.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock worth $117,000 after purchasing an additional 490 shares in the last quarter. Daytona Street Capital LLC bought a new stake in Metropolitan Bank in the 4th quarter worth about $199,000. Finally, Arizona State Retirement System purchased a new stake in Metropolitan Bank in the 3rd quarter valued at about $201,000. 79.83% of the stock is owned by hedge funds and other institutional investors.

About Metropolitan Bank

Metropolitan Bank (NYSE:MCB), through its principal subsidiary Metropolitan Commercial Bank, operates as a New York–based regional financial institution providing a range of commercial and consumer banking services. The company offers deposit products including checking, savings and money market accounts, as well as business and personal certificates of deposit. On the lending side, Metropolitan Bank extends commercial real estate financing, equipment loans, working capital lines of credit and consumer installment loans tailored to the needs of small- and medium-sized enterprises and individual customers.

In addition to traditional deposit and lending services, Metropolitan Bank provides specialized treasury and cash-management solutions, foreign exchange services and letters of credit for both domestic businesses and multinational clients.