Barclays PLC Boosts Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Barclays PLC lifted its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 345.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,341 shares of the company's stock after purchasing an additional 21,979 shares during the quarter. Barclays PLC owned about 0.11% of MetroCity Bankshares worth $868,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MCBS. SG Americas Securities LLC acquired a new position in shares of MetroCity Bankshares during the third quarter valued at approximately $212,000. PDT Partners LLC purchased a new stake in MetroCity Bankshares in the 3rd quarter valued at about $228,000. GSA Capital Partners LLP acquired a new position in MetroCity Bankshares in the third quarter valued at about $251,000. Creative Planning purchased a new position in MetroCity Bankshares during the third quarter worth about $331,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of MetroCity Bankshares during the second quarter valued at about $377,000. 25.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of MetroCity Bankshares from $34.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.

Insider Transactions at MetroCity Bankshares

In related news, Director Ajit A. Patel sold 5,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the sale, the director now directly owns 645,739 shares of the company's stock, valued at $21,373,960.90. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Farid Tan sold 1,868 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $35.55, for a total transaction of $66,407.40. Following the transaction, the president now owns 922,020 shares in the company, valued at approximately $32,777,811. This trade represents a 0.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,600 shares of company stock worth $1,181,786. Insiders own 27.49% of the company's stock.

MetroCity Bankshares Stock Down 2.0 %

MetroCity Bankshares stock traded down $0.63 during mid-day trading on Thursday, reaching $31.35. 18,328 shares of the company's stock were exchanged, compared to its average volume of 40,614. The company has a fifty day moving average of $33.32 and a 200-day moving average of $30.74. The company has a market cap of $794.17 million, a P/E ratio of 13.51 and a beta of 0.64. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a twelve month low of $21.89 and a twelve month high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.01. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%. The company had revenue of $60.45 million for the quarter.

MetroCity Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. MetroCity Bankshares's dividend payout ratio is currently 39.66%.

About MetroCity Bankshares

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.