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NEW YORK - Metropolitan Bank Holding Corp. (MCB), the parent company of Metropolitan Commercial Bank, has launched a share repurchase program with plans to buy back up to $50 million of its common stock. Currently trading at $52.73 with a market capitalization of $594 million, InvestingPro analysis indicates the stock is undervalued. The initiative, which was approved by the bank’s board of directors, aims to enhance shareholder value and reflects the company’s confidence in its long-term growth prospects and financial stability.
The repurchase of shares will be conducted intermittently on the open market or through other methods in compliance with securities regulations and other legal requirements, potentially under a Rule 10b5-1 plan. The timing and volume of the buybacks will be influenced by market conditions, share prices, and other factors. With a P/E ratio of 8.85 and strong financial health metrics according to InvestingPro, the company appears well-positioned to execute this program. The program does not have a set expiration date and may be halted or suspended at any time without obligating the company to purchase a specific number of shares.
The results of the share repurchase plan will be reported in the company’s periodic filings, allowing investors to track the progress of the initiative.
Metropolitan Commercial Bank, headquartered in New York City, offers a wide array of banking products and services to individuals, businesses, and organizations. The bank has been recognized for its performance and stability, including being named one of Newsweek’s Best Regional Banks and Credit Unions for 2025 and earning a place in the Piper Sandler Bank Sm-All Stars Class of 2024. Analysts maintain a positive outlook, with price targets ranging from $78 to $85. For comprehensive analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
This announcement contains forward-looking statements regarding the bank’s future financial performance and strategic initiatives, including the share repurchase program. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected.
Investors are advised that this news is based on a press release statement from Metropolitan Bank Holding Corp. and should consider the bank’s recent achievements and the current economic environment when evaluating the potential implications of the share buyback plan.
In other recent news, Metropolitan Bank Holding reported strong financial results for the fourth quarter of 2024, exceeding Wall Street expectations. The bank achieved an earnings per share (EPS) of $1.88, surpassing the forecasted $1.49, and reported revenue of $71 million, above the anticipated $67.46 million. This performance highlights significant growth in net interest income and a promising net interest margin outlook. Metropolitan Bank also successfully exited its Banking-as-a-Service (BaaS) business, allowing a sharper focus on technology integration. The company experienced substantial deposit and loan growth, with new loans carrying an average coupon of 7.8%. Analyst firms did not provide any specific upgrades or downgrades in this period. However, the bank’s strategic initiatives and operational efficiency were noted positively. Looking ahead, Metropolitan Bank projects a net interest margin of 3.7% to 3.75% for 2025, with anticipated loan growth between 9-11%.
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