Metropolitan Bank Holding Corp. (NYSE:MCB) to Issue Dividend Increase – $0.35 Per Share

Metropolitan Bank Holding Corp. (NYSE:MCB) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Friday, July 31st will be given a dividend of 0.35 per share on Tuesday, August 11th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, July 31st. This is a 40.0% increase from Metropolitan Bank’s previous quarterly dividend of $0.25.

Metropolitan Bank Stock Performance

Shares of NYSE MCB opened at $98.47 on Tuesday. Metropolitan Bank has a 52-week low of $64.66 and a 52-week high of $102.04. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.13 and a beta of 1.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $94.06 and its 200 day simple moving average is $89.06.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.73. The business had revenue of $88.49 million during the quarter, compared to analyst estimates of $87.33 million. Metropolitan Bank had a return on equity of 10.95% and a net margin of 15.89%.

Insider Buying and Selling at Metropolitan Bank

In other Metropolitan Bank news, Director Harvey Gutman sold 3,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $89.58, for a total value of $268,740.00. Following the completion of the sale, the director owned 18,243 shares in the company, valued at $1,634,207.94. This represents a 14.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,807 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $100.42, for a total transaction of $181,458.94. Following the transaction, the executive vice president owned 22,202 shares in the company, valued at approximately $2,229,524.84. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 19,897 shares of company stock worth $1,874,352. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MCB. Royal Bank of Canada raised its stake in shares of Metropolitan Bank by 70.4% during the fourth quarter. Royal Bank of Canada now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 143 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Metropolitan Bank by 0.3% in the third quarter. Bridgeway Capital Management LLC now owns 69,851 shares of the company’s stock valued at $5,226,000 after purchasing an additional 182 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Metropolitan Bank by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,257 shares of the company’s stock worth $350,000 after purchasing an additional 237 shares during the last quarter. Emerald Advisers LLC bought a new position in Metropolitan Bank during the 1st quarter worth $25,000. Finally, Lazard Asset Management LLC lifted its holdings in Metropolitan Bank by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 6,026 shares of the company’s stock worth $502,000 after buying an additional 355 shares during the period. Hedge funds and other institutional investors own 79.83% of the company’s stock.

Metropolitan Bank Company Profile

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.