Barclays PLC Buys 21,979 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

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

A number of other hedge funds also recently modified their holdings of the business. Jane Street Group LLC raised its position 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 acquiring an additional 370 shares during the last quarter. State Street Corp increased its position in MetroCity Bankshares by 2.9% during the 3rd quarter. State Street Corp now owns 429,312 shares of the company's stock valued at $13,146,000 after purchasing an additional 11,900 shares during the period. PDT Partners LLC bought a new position in MetroCity Bankshares during the 3rd quarter worth approximately $228,000. Charles Schwab Investment Management Inc. lifted its position in shares of MetroCity Bankshares by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company's stock worth $4,524,000 after purchasing an additional 2,745 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of MetroCity Bankshares in the 3rd quarter valued at $251,000. Institutional investors and hedge funds own 25.33% of the company's stock.

Insider Buying and Selling 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 value of $165,500.00. Following the transaction, the director now directly owns 645,739 shares in the company, valued at $21,373,960.90. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Farid Tan sold 21,000 shares of MetroCity Bankshares stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $33.81, for a total transaction of $710,010.00. Following the completion of the sale, the president now directly owns 923,888 shares of the company's stock, valued at approximately $31,236,653.28. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,600 shares of company stock valued at $1,181,786. Corporate insiders own 27.49% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their target price 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 Trading Down 1.0 %

Shares of MetroCity Bankshares stock traded down $0.31 on Wednesday, hitting $31.95. 27,288 shares of the company's stock traded hands, compared to its average volume of 34,442. The company has a fifty day moving average of $33.14 and a two-hundred day moving average of $30.32. MetroCity Bankshares, Inc. has a one year low of $21.89 and a one year high of $36.15. The company has a market capitalization of $809.36 million, a price-to-earnings ratio of 13.77 and a beta of 0.64. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24.

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

MetroCity Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.88%. This is a boost from MetroCity Bankshares's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, October 30th. MetroCity Bankshares's dividend payout ratio (DPR) is presently 39.66%.

MetroCity Bankshares 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.