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

Metropolitan Bank Holding Corp. (NYSE:MCB) announced a quarterly dividend on Monday, April 20th. Shareholders of record on Friday, May 1st will be paid 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 Price Performance

MCB traded up $0.48 during midday trading on Tuesday, hitting $91.83. The company had a trading volume of 14,039 shares, compared to its average volume of 177,863. Metropolitan Bank has a twelve month low of $53.80 and a twelve month high of $97.84. The firm’s 50-day simple moving average is $85.92 and its 200-day simple moving average is $80.65. The company has a market capitalization of $1.14 billion, a PE ratio of 13.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.96 and a current ratio of 0.96.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings results on Tuesday, January 20th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.70. The business had revenue of $88.41 million during the quarter, compared to analyst estimates of $83.15 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 9.69%.

Analysts Set New Price Targets

Several brokerages have weighed in on MCB. Zacks Research raised Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Weiss Ratings raised shares of Metropolitan Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods raised their price objective on shares of Metropolitan Bank from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, UBS Group assumed coverage on Metropolitan Bank in a research report on Thursday, April 16th. They issued a “neutral” rating and a $97.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $93.67.

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.