Sippican Capital Advisors Buys 5,825 Shares of Metropolitan Bank Holding Corp. (NYSE:MCB)

Sippican Capital Advisors lifted its stake in shares of Metropolitan Bank Holding Corp. (NYSE:MCB - Free Report) by 31.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,121 shares of the company's stock after acquiring an additional 5,825 shares during the period. Sippican Capital Advisors owned 0.22% of Metropolitan Bank worth $1,351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MCB. Salzhauer Michael boosted its holdings in Metropolitan Bank by 8.3% in the first quarter. Salzhauer Michael now owns 45,171 shares of the company's stock worth $2,529,000 after acquiring an additional 3,468 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Metropolitan Bank by 1.3% during the first quarter. SummerHaven Investment Management LLC now owns 17,998 shares of the company's stock worth $1,008,000 after purchasing an additional 224 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Metropolitan Bank by 289.5% in the 1st quarter. GAMMA Investing LLC now owns 596 shares of the company's stock worth $33,000 after purchasing an additional 443 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Metropolitan Bank in the 4th quarter worth $12,109,000. Finally, Man Group plc increased its stake in Metropolitan Bank by 44.4% during the 4th quarter. Man Group plc now owns 7,236 shares of the company's stock valued at $423,000 after purchasing an additional 2,226 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group raised their price objective on shares of Metropolitan Bank from $75.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday, June 16th.

Insider Buying and Selling

In other Metropolitan Bank news, CEO Mark R. Defazio sold 20,517 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $65.43, for a total value of $1,342,427.31. Following the transaction, the chief executive officer directly owned 94,185 shares in the company, valued at $6,162,524.55. The trade was a 17.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Patent sold 2,000 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $65.61, for a total transaction of $131,220.00. Following the transaction, the director owned 79,183 shares of the company's stock, valued at $5,195,196.63. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,200 shares of company stock valued at $3,912,099 over the last 90 days. 6.09% of the stock is currently owned by company insiders.

Metropolitan Bank Stock Up 1.4%

Shares of MCB stock traded up $1.01 during trading hours on Wednesday, reaching $73.25. The company had a trading volume of 139,930 shares, compared to its average volume of 92,831. The company has a market cap of $780.85 million, a price-to-earnings ratio of 12.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 0.98. Metropolitan Bank Holding Corp. has a 12 month low of $40.21 and a 12 month high of $73.95. The business has a fifty day simple moving average of $65.13 and a 200-day simple moving average of $60.55.

Metropolitan Bank (NYSE:MCB - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.16). The company had revenue of $70.59 million for the quarter, compared to the consensus estimate of $67.62 million. Metropolitan Bank had a net margin of 13.49% and a return on equity of 10.53%. During the same quarter last year, the business posted $1.46 earnings per share. On average, research analysts expect that Metropolitan Bank Holding Corp. will post 7.31 earnings per share for the current fiscal year.

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.