Connor Clark & Lunn Investment Management Ltd. Makes New $562,000 Investment in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,599 shares of the company's stock, valued at approximately $562,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of MetroCity Bankshares as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of MetroCity Bankshares by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 148,831 shares of the company's stock valued at $4,755,000 after purchasing an additional 1,086 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of MetroCity Bankshares by 11.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 34,237 shares of the company's stock valued at $1,094,000 after acquiring an additional 3,493 shares during the period. SG Americas Securities LLC boosted its holdings in MetroCity Bankshares by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock valued at $262,000 after acquiring an additional 1,280 shares during the last quarter. JPMorgan Chase & Co. increased its position in MetroCity Bankshares by 119.7% in the third quarter. JPMorgan Chase & Co. now owns 43,158 shares of the company's stock worth $1,321,000 after purchasing an additional 23,515 shares during the period. Finally, Franklin Resources Inc. raised its holdings in MetroCity Bankshares by 15.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,680 shares of the company's stock worth $358,000 after purchasing an additional 1,557 shares during the last quarter. 25.33% of the stock is owned by institutional investors.

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MetroCity Bankshares Trading Up 0.5 %

NASDAQ MCBS traded up $0.14 on Wednesday, reaching $27.62. The company had a trading volume of 29,689 shares, compared to its average volume of 35,629. 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 52 week low of $21.89 and a 52 week high of $36.15. The stock has a market cap of $701.63 million, a price-to-earnings ratio of 11.00 and a beta of 0.58. The stock's 50 day moving average is $30.08 and its 200-day moving average is $31.26.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same quarter in the previous year, the company earned $0.65 earnings per share.

MetroCity Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Wednesday, January 29th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.33%. The ex-dividend date was Wednesday, January 29th. MetroCity Bankshares's payout ratio is presently 36.65%.

Wall Street Analyst Weigh In

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

MetroCity Bankshares Company Profile

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.