Lido Advisors LLC Purchases New Shares in Metropolitan Bank Holding Corp. $MCB

Key Points

• Lido Advisors LLC bought a new stake in Metropolitan Bank Holding Corp., acquiring 34,474 shares valued at about $2.63 million and representing roughly 0.33% of the company.
• Metropolitan Bank reported strong quarterly results, with EPS of $2.92 beating expectations of $2.19 and revenue of $88.49 million topping estimates.
• The bank also raised its quarterly dividend to $0.25 per share from $0.20, while analysts currently rate the stock a consensus Buy with an average target price of $95.00.

Lido Advisors LLC purchased a new stake in Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 34,474 shares of the company's stock, valued at approximately $2,632,000. Lido Advisors LLC owned about 0.33% of Metropolitan Bank at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in Metropolitan Bank in the 3rd quarter valued at $48,000. Tower Research Capital LLC TRC raised its position in 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 during the last quarter. Daytona Street Capital LLC purchased a new position in Metropolitan Bank during the 4th quarter worth $199,000. Arizona State Retirement System purchased a new position in Metropolitan Bank during the 3rd quarter worth $201,000. Finally, Systematic Alpha Investments LLC purchased a new position in Metropolitan Bank during the 3rd quarter worth $202,000. Hedge funds and other institutional investors own 79.83% of the company's stock.

Metropolitan Bank Stock Performance

Shares of MCB opened at $90.69 on Monday. The company has a 50-day simple moving average of $88.23 and a 200-day simple moving average of $84.69. 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 company has a market capitalization of $1.12 billion, a PE ratio of 11.17 and a beta of 1.01. Metropolitan Bank Holding Corp. has a 52-week low of $63.81 and a 52-week high of $97.84.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $2.92 earnings per share (EPS) 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 the consensus estimate of $87.33 million. Metropolitan Bank had a net margin of 15.89% and a return on equity of 10.95%.

Metropolitan Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 12th. Stockholders of record on Friday, May 1st were issued a $0.25 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Metropolitan Bank's previous quarterly dividend of $0.20. Metropolitan Bank's payout ratio is 12.32%.

Insider Transactions at Metropolitan Bank

In other news, Director Harvey Gutman sold 3,000 shares of the stock in a transaction dated 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 transaction, the director owned 18,243 shares in the company, valued at $1,634,207.94. This trade represents a 14.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert C. Patent sold 5,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $90.21, for a total transaction of $451,050.00. Following the completion of the transaction, the director owned 96,185 shares of the company's stock, valued at $8,676,848.85. This represents a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on MCB shares. Keefe, Bruyette & Woods upped their price objective on shares of Metropolitan Bank from $105.00 to $109.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Metropolitan Bank from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. UBS Group started coverage on shares of Metropolitan Bank in a research report on Thursday, April 16th. They set a "neutral" rating and a $97.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Metropolitan Bank from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Metropolitan Bank presently has an average rating of "Buy" and an average target price of $95.00.

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.

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