Metropolitan Bank Holding Corp. (NYSE:MCB) Raises Dividend to $0.25 Per Share

Metropolitan Bank Holding Corp. (NYSE:MCB) declared a quarterly dividend on Monday, April 20th. Shareholders of record on Friday, May 1st will be given a dividend of 0.25 per share on Tuesday, May 12th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 1st. This is a 25.0% increase from Metropolitan Bank’s previous quarterly dividend of $0.20.

Metropolitan Bank Trading Up 2.3%

NYSE MCB opened at $91.05 on Tuesday. Metropolitan Bank has a 12 month low of $53.80 and a 12 month high of $97.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 13.69 and a beta of 1.13. The company’s fifty day moving average price is $85.92 and its two-hundred day moving average price is $80.65.

Metropolitan Bank (NYSE:MCB) last posted its quarterly earnings data 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 net margin of 13.49% and a return on equity of 9.69%. The firm had revenue of $88.41 million for the quarter, compared to the consensus estimate of $83.15 million.

Insider Transactions at Metropolitan Bank

In other Metropolitan Bank news, Director Robert C. Patent sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $94.99, for a total transaction of $949,900.00. Following the completion of the transaction, the director directly owned 88,685 shares of the company’s stock, valued at $8,424,188.15. The trade was a 10.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of Metropolitan Bank 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 sale, the executive vice president directly owned 25,839 shares in the company, valued at $2,330,936.19. The trade was a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,695 shares of company stock valued at $1,472,847 over the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Metropolitan Bank

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in Metropolitan Bank by 70.4% during the 4th quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 143 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Metropolitan Bank during the 3rd quarter valued at $31,000. Quarry LP bought a new stake in Metropolitan Bank during the 3rd quarter valued at $48,000. Kestra Advisory Services LLC bought a new stake in Metropolitan Bank during the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Metropolitan Bank by 41.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,670 shares of the company’s stock worth $117,000 after buying an additional 490 shares in the last quarter. Institutional investors own 79.83% of the company’s stock.

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.