Metropolitan Bank rises on $50 million buyback
ReutersMar 13, 2025 2:49 PM
Metropolitan Bank's shares MCB.N rise as much as 3.4%; last up 1.7% at $53.61
The community bank late on Wednesday announced a $50 million stock repurchase program
Hovde Group says the move reinforces its "outperform" rating on MCB as potential repurchases make sense given solid capital levels and discounted valuation
MCB has 11.2 million shares outstanding for $591.9 million market cap - data compiled by LSEG
Stock down 8.4% YTD after rising 5.5% in 2024
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