Who knows when MET will be allow to buyback shares ?
When they are approved to divest themselves of their small banking arm which accounts for less than 2% of operating earnings (maybe...)
MET agreed last December to sell its online banking operation with $7 billion in deposits to GE Capital Bank. This deal was contingent on FDIC approval & was meeting resistance by regulators dues to the companies inability to meet stress tests under Dodd-Frank.
It has restructured the deal to sell the business to another GE unit "GE Capital Retail Bank" which means the sale must be approved by the Office of the Comptroller of the Currency & GE says they expect the deal to conclude before years end.
Even if the deal goes through; the company may still be subject to Dodd-Frank as a systematically important institution (and rightfully so) but the rules would in all likelihood be tailored to fit the industry.
On the one hand; I would like to see some oversight on my investment & on the other palm I'd like to read high returns over the next 10 years (they both go hand in hand!)
The company has stated that it wants this deal to go through in order to initiate a share repurchase & raise the dividend but as to the if & when; I'm in no hurry - lower share price means I accumulate more & get a higher 10 year return ; )