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

Sippican Capital Advisors grew its holdings in Metropolitan Bank Holding Corp. (NYSE:MCB) by 87.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,954 shares of the company’s stock after purchasing an additional 6,030 shares during the quarter. Sippican Capital Advisors’ holdings in Metropolitan Bank were worth $681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Metropolitan Bank in the 1st quarter valued at approximately $1,876,000. Acadian Asset Management LLC grew its stake in Metropolitan Bank by 133.4% in the 1st quarter. Acadian Asset Management LLC now owns 48,548 shares of the company’s stock valued at $1,867,000 after acquiring an additional 27,752 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Metropolitan Bank by 21.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 82,931 shares of the company’s stock valued at $3,193,000 after purchasing an additional 14,547 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Metropolitan Bank by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 628,996 shares of the company’s stock valued at $24,216,000 after purchasing an additional 27,499 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Metropolitan Bank during the 2nd quarter worth about $273,000. 79.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCB has been the subject of a number of analyst reports. Hovde Group boosted their price objective on Metropolitan Bank from $65.50 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $67.50 target price (up previously from $55.00) on shares of Metropolitan Bank in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Metropolitan Bank from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd.

Metropolitan Bank Price Performance

MCB stock traded up $1.43 on Thursday, reaching $55.48. 69,578 shares of the company’s stock were exchanged, compared to its average volume of 93,986. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $620.99 million, a PE ratio of 9.13 and a beta of 1.13. Metropolitan Bank Holding Corp. has a twelve month low of $31.81 and a twelve month high of $64.10. The stock has a fifty day moving average of $53.05 and a 200-day moving average of $47.00.

Insider Buying and Selling at Metropolitan Bank

In related news, SVP Norman Scott sold 1,473 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.92, for a total transaction of $85,316.16. Following the transaction, the senior vice president now directly owns 11,732 shares in the company, valued at approximately $679,517.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nick Rosenberg sold 1,250 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $55.14, for a total value of $68,925.00. Following the transaction, the executive vice president now directly owns 31,443 shares in the company, valued at $1,733,767.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Norman Scott sold 1,473 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.92, for a total value of $85,316.16. Following the completion of the transaction, the senior vice president now owns 11,732 shares in the company, valued at approximately $679,517.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

Metropolitan Bank 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.