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 Stock Down 5.6%

Shares of NYSE:MCB opened at $89.60 on Friday. The company has a market capitalization of $922.90 million, a P/E ratio of 13.47 and a beta of 1.13. The stock’s fifty day simple moving average is $78.33 and its 200-day simple moving average is $75.51. Metropolitan Bank has a 52-week low of $47.08 and a 52-week high of $96.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Metropolitan Bank (NYSE:MCB) last issued its 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 firm had revenue of $88.41 million for the quarter, compared to analysts’ expectations of $83.15 million. Metropolitan Bank had a return on equity of 9.73% and a net margin of 13.49%. As a group, equities research analysts forecast that Metropolitan Bank will post 7.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MCB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on Metropolitan Bank from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Metropolitan Bank in a research report on Thursday. Finally, Zacks Research upgraded shares of Metropolitan Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $92.00.

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.