Metropolitan Bank Holding Corp. (MCB) To Go Ex-Dividend on July 31st

Metropolitan Bank Holding Corp. (NYSE:MCB) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Friday, July 31st will be given a dividend of 0.35 per share on Tuesday, August 11th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, July 31st. This is a 40.0% increase from Metropolitan Bank’s previous quarterly dividend of $0.25.

Metropolitan Bank Stock Performance

Shares of MCB opened at $98.92 on Wednesday. The stock has a 50 day moving average price of $94.28 and a two-hundred day moving average price of $89.22. Metropolitan Bank has a 52 week low of $64.66 and a 52 week high of $102.04. The firm has a market capitalization of $1.23 billion, a P/E ratio of 12.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99.

Metropolitan Bank (NYSE:MCB) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.76). Metropolitan Bank had a net margin of 15.89% and a return on equity of 10.95%. The company had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $93.39 million.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Metropolitan Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price target on shares of Metropolitan Bank from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. UBS Group assumed coverage on Metropolitan Bank in a report on Thursday, April 16th. They set a “neutral” rating and a $97.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Metropolitan Bank from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $103.00.

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.