Metropolitan Bank Holding Corp. (NYSE:MCB) Position Boosted by Sippican Capital Advisors

Sippican Capital Advisors grew its position in Metropolitan Bank Holding Corp. (NYSE:MCB) by 87.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,954 shares of the company’s stock after buying an additional 6,030 shares during the quarter. Sippican Capital Advisors owned approximately 0.12% of Metropolitan Bank worth $681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Metropolitan Bank by 112.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,193 shares of the company’s stock worth $4,690,000 after purchasing an additional 47,193 shares during the period. Creative Planning bought a new position in Metropolitan Bank during the third quarter worth $276,000. Unison Advisors LLC bought a new position in Metropolitan Bank during the third quarter worth $710,000. CWM LLC increased its position in Metropolitan Bank by 127.0% during the third quarter. CWM LLC now owns 1,780 shares of the company’s stock worth $94,000 after acquiring an additional 996 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Metropolitan Bank by 32.1% during the third quarter. SG Americas Securities LLC now owns 8,561 shares of the company’s stock worth $450,000 after buying an additional 2,080 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Metropolitan Bank

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

Metropolitan Bank Price Performance

NYSE MCB traded up $1.43 during midday trading on Thursday, hitting $55.48. The company had a trading volume of 69,578 shares, compared to its average volume of 93,986. The firm has a 50-day moving average price of $53.05 and a 200-day moving average price of $47.00. Metropolitan Bank Holding Corp. has a twelve month low of $31.81 and a twelve month high of $64.10. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $620.99 million, a PE ratio of 9.13 and a beta of 1.13.

Wall Street Analysts Forecast Growth

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

About Metropolitan Bank

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.