MetroCity Bankshares, Inc. (NASDAQ:MCBS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 895,620 shares of the company’s stock after selling 62,955 shares during the period. Vanguard Group Inc.’s holdings in MetroCity Bankshares were worth $17,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCBS. Bank of New York Mellon Corp lifted its position in shares of MetroCity Bankshares by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 161,255 shares of the company’s stock worth $3,786,000 after purchasing an additional 3,702 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of MetroCity Bankshares by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 11,843 shares of the company’s stock worth $278,000 after buying an additional 4,371 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in MetroCity Bankshares by 29.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 89,524 shares of the company’s stock worth $2,102,000 after acquiring an additional 20,336 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of MetroCity Bankshares by 9.8% during the first quarter. First Trust Advisors LP now owns 12,971 shares of the company’s stock worth $305,000 after purchasing an additional 1,154 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of MetroCity Bankshares by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 137,874 shares of the company’s stock valued at $3,238,000 after purchasing an additional 1,541 shares during the last quarter. 25.33% of the stock is owned by institutional investors and hedge funds.

MetroCity Bankshares Price Performance

Shares of NASDAQ:MCBS opened at $22.77 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.21. MetroCity Bankshares, Inc. has a one year low of $13.10 and a one year high of $26.23. The company has a 50-day simple moving average of $23.84 and a 200-day simple moving average of $22.65. The stock has a market capitalization of $574.03 million, a price-to-earnings ratio of 11.27 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $55.38 million for the quarter. MetroCity Bankshares had a return on equity of 13.83% and a net margin of 24.44%.

MetroCity Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.51%. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.18. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 39.60%.

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.