earnings
confidence high
sentiment neutral
materiality 0.75
Metropolitan Bank Q2 EPS $1.54; NII up 22.8% YoY; dividend raised 40% to $0.35; $50M buyback
Metropolitan Bank Holding Corp.
- Diluted EPS $1.54 vs $2.92 prior quarter and $1.76 year ago; net income $19.2M.
- Net interest income $90.4M, up 22.8% YoY; NIM stable at 4.08%.
- Provision for credit losses $13.3M driven by a single C&I loan in non-core portfolio.
- Non-performing loans ratio improved to 0.91% from 1.01% prior quarter.
- Board approved $50M stock repurchase program; quarterly dividend raised to $0.35/share from $0.25.