Sippican Capital Advisors Boosts Position in Metropolitan Bank Holding Corp. (NYSE:MCB)

Sippican Capital Advisors raised its stake in Metropolitan Bank Holding Corp. (NYSE:MCB) by 41.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,296 shares of the company’s stock after buying an additional 5,342 shares during the period. Sippican Capital Advisors owned about 0.16% of Metropolitan Bank worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Metropolitan Bank during the second quarter valued at approximately $27,000. USA Financial Formulas bought a new stake in Metropolitan Bank during the 4th quarter valued at $66,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Metropolitan Bank by 212.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,354 shares of the company’s stock worth $71,000 after buying an additional 921 shares during the period. R Squared Ltd bought a new position in shares of Metropolitan Bank during the 4th quarter worth $91,000. Finally, CWM LLC increased its stake in shares of Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company’s stock valued at $94,000 after buying an additional 996 shares during the period. 79.83% of the stock is currently owned by institutional investors.

Metropolitan Bank Price Performance

Shares of MCB stock opened at $64.21 on Thursday. The company has a market cap of $719.19 million, a P/E ratio of 12.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $62.03 and its 200 day moving average is $56.29. Metropolitan Bank Holding Corp. has a 1-year low of $32.46 and a 1-year high of $69.56.

Metropolitan Bank (NYSE:MCB) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.39. Metropolitan Bank had a net margin of 12.47% and a return on equity of 10.02%. Research analysts predict that Metropolitan Bank Holding Corp. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Scott Lublin sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $58.77, for a total transaction of $176,310.00. Following the transaction, the executive vice president now owns 52,253 shares in the company, valued at $3,070,908.81. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nick Rosenberg sold 1,250 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $65.17, for a total transaction of $81,462.50. Following the completion of the transaction, the executive vice president now directly owns 30,193 shares of the company’s stock, valued at $1,967,677.81. The trade was a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MCB shares. Keefe, Bruyette & Woods upped their price objective on shares of Metropolitan Bank from $73.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price target on shares of Metropolitan Bank from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Hovde Group increased their price objective on shares of Metropolitan Bank from $75.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday.

Metropolitan Bank Company Profile

Metropolitan Bank Holding Corp. operates as the bank holding company for Metropolitan Commercial Bank that provides a range of business, commercial, and retail banking products and services to small businesses, middle-market enterprises, public entities, and individuals in the New York metropolitan area.