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

Metropolitan Bank Holding Corp. (NYSE:MCB - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Shareholders of record on Monday, July 28th will be paid a dividend of 0.15 per share on Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 0.78%.

Metropolitan Bank Price Performance

MCB traded up $3.11 on Thursday, hitting $76.85. 145,841 shares of the company were exchanged, compared to its average volume of 93,471. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $819.25 million, a P/E ratio of 13.00 and a beta of 1.08. The business's fifty day moving average is $67.97 and its 200 day moving average is $61.73. Metropolitan Bank has a fifty-two week low of $40.21 and a fifty-two week high of $77.50.

Metropolitan Bank (NYSE:MCB - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. Metropolitan Bank had a net margin of 13.49% and a return on equity of 10.53%. As a group, sell-side analysts anticipate that Metropolitan Bank will post 7.31 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert C. Patent sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $65.61, for a total transaction of $131,220.00. Following the completion of the sale, the director owned 79,183 shares of the company's stock, valued at approximately $5,195,196.63. This represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark R. Defazio sold 20,517 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $65.43, for a total transaction of $1,342,427.31. Following the sale, the chief executive officer directly owned 94,185 shares of the company's stock, valued at approximately $6,162,524.55. This trade represents a 17.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,450 shares of company stock valued at $4,005,911. 6.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Metropolitan Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 acquiring an additional 237 shares in the last quarter. Royal Bank of Canada lifted its position in Metropolitan Bank by 11.7% during the 1st quarter. Royal Bank of Canada now owns 7,429 shares of the company's stock worth $416,000 after acquiring an additional 778 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Metropolitan Bank by 5.3% during the 1st quarter. Empowered Funds LLC now owns 42,268 shares of the company's stock worth $2,367,000 after acquiring an additional 2,126 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Analysts Set New Price Targets

Separately, Hovde Group raised their price target on shares of Metropolitan Bank from $75.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th.

About Metropolitan Bank

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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