Metropolitan Bank Holding Corp. announced that its board of directors has approved a new share repurchase plan. The authorization allows the company to purchase up to $50,000,000 of its common stock.
This strategic initiative is designed to enhance shareholder value by reducing the number of outstanding shares. Share repurchase programs often reflect management's belief that the company's stock is undervalued.
The program provides a mechanism for returning capital to shareholders and demonstrates the company's commitment to delivering total return to its investors. Such actions are closely watched by the market as indicators of financial strength and capital allocation strategy.
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