JPMorgan Chase & Co. Acquires 35,118 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

JPMorgan Chase & Co. grew its holdings in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 81.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,276 shares of the company’s stock after acquiring an additional 35,118 shares during the period. JPMorgan Chase & Co. owned about 0.31% of MetroCity Bankshares worth $2,501,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. American Century Companies Inc. grew its holdings in MetroCity Bankshares by 34.4% during the 4th quarter. American Century Companies Inc. now owns 309,264 shares of the company’s stock worth $9,881,000 after acquiring an additional 79,080 shares during the period. Barclays PLC boosted its position in shares of MetroCity Bankshares by 345.5% during the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock valued at $868,000 after purchasing an additional 21,979 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MetroCity Bankshares during the fourth quarter worth approximately $562,000. State Street Corp grew its stake in MetroCity Bankshares by 2.9% during the third quarter. State Street Corp now owns 429,312 shares of the company’s stock worth $13,146,000 after purchasing an additional 11,900 shares during the period. Finally, Geode Capital Management LLC increased its holdings in MetroCity Bankshares by 1.5% in the third quarter. Geode Capital Management LLC now owns 424,739 shares of the company’s stock worth $13,009,000 after purchasing an additional 6,341 shares in the last quarter. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Trading Up 3.8 %

NASDAQ:MCBS opened at $28.55 on Wednesday. MetroCity Bankshares, Inc. has a 12 month low of $22.25 and a 12 month high of $36.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $725.26 million, a price-to-earnings ratio of 11.37 and a beta of 0.51. The firm has a fifty day simple moving average of $27.96 and a two-hundred day simple moving average of $30.72.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings data on Friday, April 18th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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%. The company had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.20 million.

MetroCity Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 36.65%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price target on MetroCity Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a report on Tuesday.

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.