NEW YORK--(BUSINESS WIRE)-- #mcb--Metropolitan Bank Holding Corp. (“Company”) the publicly traded holding company of Metropolitan Commercial Bank (“MCB” or the “Bank”) is pleased to announce that its board of directors has approved a share repurchase plan with authorization to purchase up to fifty million dollars ($50,000,000) of the common stock of the Company (NYSE: MCB). The purpose of the strategic initiative is to demonstrate the Company's commitment to delivering total return to its investors. “.
Metropolitan Bank Holding Corp. remains solid with stable margins despite recent toppish growth, supported by prudent loan origination and diversification, especially in the CRE market. MCB maintains decent liquidity and capital adequacy, ensuring it can cover risks and crises, with a CET1 Ratio of 12% and total capital ratio of 13.3%. The stock is underpriced, trading at 0.9x book value, offering an 18% upside potential with a target price of $66.93.
The consensus price target hints at a 28.1% upside potential for Metropolitan Bank Holding (MCB). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Metropolitan Bank Holding Corp. (NYSE:MCB ) Q4 2024 Results Conference Call January 24, 2025 9:00 AM ET Company Participants Mark DeFazio - President & CEO Daniel Dougherty - EVP & CFO Conference Call Participants Chris O'Connell - KBW Mark Fitzgibbon - Piper Sandler Feddie Strickland - Hovde Group Operator Welcome to Metropolitan Commercial Bank's Fourth Quarter and Full Year 2024 Earnings Call. Hosting the call today for Metropolitan Commercial Bank are Mark DeFazio, President and Chief Executive Officer; and Daniel Dougherty, Executive Vice President and Chief Financial Officer.
Metropolitan Bank Holding Corp. (MCB) came out with quarterly earnings of $1.88 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.28 per share a year ago.
NEW YORK--(BUSINESS WIRE)--Metropolitan Bank Holding Corp. (the “Company”) (NYSE: MCB), the holding company for Metropolitan Commercial Bank, today announced it will release fourth quarter and full year 2024 financial results after the market closes on Thursday, January 23, 2025. The Company will conduct a conference call at 9:00 a.m. ET on Friday, January 24, 2025, to discuss the results. To access the event by telephone, please dial 800-579-2543 (US), 785-424-1789 (INTL), and provide conferen.
Even after seeing some nice upside, shares of Metropolitan Bank deserve to rise from here. This is in spite of the fact that recent financial performance has been mixed with rising expenses and declining net profits. The company's valuation is relatively low, but its return on assets and equity are not particularly impressive compared to peers.
Calls on Independent Trustees of Whitestone to Initiate Strategic Review Process to Maximize Value for Whitestone Shareholders Reminds Trustees of the Whitestone Board's Fiduciary Duties BALTIMORE , Nov. 18, 2024 /PRNewswire/ -- MCB Real Estate ("MCB"), a leading commercial real estate developer and investment management firm with a diverse nationwide portfolio and approximately $3 billion in AUM, today sent a letter to the Board of Trustees of Whitestone REIT (NYSE: WSR) ("Whitestone") withdrawing MCB's previously announced proposal to acquire the company. MCB sent the following letter to the Whitestone Board: November 18, 2024 Board of TrusteesC/O David K.
The Whitestone Board Has Summarily Rejected and Refused to Engage Regarding MCB's Improved $15.00 per Share All-Cash Proposal, which would Deliver a 14.5% Premium to Whitestone Shareholders MCB Urges the Whitestone Board and Management Team to Cease their Entrenchment Tactics and Answer Shareholders' Questions MCB Calls on Whitestone Shareholders to Make their Voices Heard; Visit www.MaximizingWhitestoneValue.com for More Information BALTIMORE , Oct. 31, 2024 /PRNewswire/ -- MCB Real Estate ("MCB"), a leading commercial real estate developer and investment management firm with a diverse nationwide portfolio and approximately $3 billion in AUM, today issued the following statement regarding its proposal to acquire Whitestone REIT (NYSE: WSR) ("Whitestone") for $15.00 per share in cash: MCB stands ready to deliver immediate and certain value to Whitestone shareholders. Our proposal is compelling by all reasonable metrics, reflecting a 14.5% premium to Whitestone's share price prior to our initial proposal on June 3, 2024, and a 61.8% premium to Whitestone's unaffected share price prior to the rumored Fortress proposal on October 26, 2023.
HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) provided the following response to MCB's recent indication of interest: