Metropolitan Bank Holding Corp. (NYSE:MCB) Announces Quarterly Dividend of $0.15

Key Points

• Metropolitan Bank Holding Corp. has declared a quarterly dividend of $0.15 per share, with an ex-dividend date of October 30th and payment scheduled for November 14th, representing an annualized dividend yield of 0.8%.
• The company recently experienced a significant stock price increase, trading up $1.78 to $77.43, and has a market capitalization of approximately $806.81 million.
• The Bank's Board of Directors approved a $50 million share buyback program, indicating management's belief that the stock is undervalued.

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) announced a quarterly dividend on Tuesday, October 21st. Investors of record on Thursday, October 30th will be paid a dividend of 0.15 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 30th.

Metropolitan Bank Price Performance

MCB stock traded up $1.78 during trading on Tuesday, hitting $77.43. The company had a trading volume of 141,174 shares, compared to its average volume of 97,414. The firm has a market capitalization of $806.81 million, a price-to-earnings ratio of 12.55 and a beta of 1.11. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $76.50 and a 200 day moving average of $69.42. Metropolitan Bank has a fifty-two week low of $47.08 and a fifty-two week high of $81.33.

Metropolitan Bank announced that its Board of Directors has approved a share buyback program on Thursday, July 17th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Metropolitan Bank Company Profile

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area.

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