Geode Capital Management LLC trimmed its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 414,351 shares of the company's stock after selling 10,388 shares during the quarter. Geode Capital Management LLC owned approximately 1.64% of MetroCity Bankshares worth $13,242,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of MCBS. Jane Street Group LLC grew its holdings in shares of MetroCity Bankshares by 2.3% during the third quarter. Jane Street Group LLC now owns 16,357 shares of the company's stock worth $501,000 after purchasing an additional 370 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MetroCity Bankshares by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 148,831 shares of the company's stock valued at $4,755,000 after buying an additional 1,086 shares in the last quarter. SG Americas Securities LLC grew its position in MetroCity Bankshares by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock worth $262,000 after acquiring an additional 1,280 shares in the last quarter. Franklin Resources Inc. increased its stake in MetroCity Bankshares by 15.4% in the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company's stock valued at $358,000 after acquiring an additional 1,557 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in MetroCity Bankshares by 14.9% during the fourth quarter. Teacher Retirement System of Texas now owns 20,176 shares of the company's stock valued at $645,000 after purchasing an additional 2,614 shares in the last quarter. Hedge funds and other institutional investors own 25.33% of the company's stock.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods dropped their target price on MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research report on Tuesday.
Read Our Latest Stock Analysis on MCBS
MetroCity Bankshares Stock Down 1.5 %
Shares of MCBS stock traded down $0.43 during mid-day trading on Friday, reaching $27.58. 17,338 shares of the company's stock traded hands, compared to its average volume of 40,034. MetroCity Bankshares, Inc. has a 12 month low of $22.25 and a 12 month high of $36.15. The company's 50-day moving average price is $27.83 and its 200-day moving average price is $30.70. The company has a market cap of $700.61 million, a P/E ratio of 10.99 and a beta of 0.51. 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 (NASDAQ:MCBS - Get Free Report) last released its quarterly earnings data on Friday, April 18th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $36.01 million for the quarter, compared to analysts' expectations of $35.20 million. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%.
MetroCity Bankshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, April 30th. MetroCity Bankshares's dividend payout ratio (DPR) is 35.80%.
About MetroCity Bankshares
(
Free Report)
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.
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