Price T Rowe Associates Inc. MD Invests $224,000 in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Price T Rowe Associates Inc. MD purchased a new position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,992 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCBS. KLP Kapitalforvaltning AS acquired a new position in shares of MetroCity Bankshares in the 4th quarter worth approximately $99,000. SG Americas Securities LLC lifted its position in shares of MetroCity Bankshares by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 8,212 shares of the company’s stock worth $262,000 after purchasing an additional 1,280 shares during the period. MetLife Investment Management LLC lifted its position in shares of MetroCity Bankshares by 10.1% in the 4th quarter. MetLife Investment Management LLC now owns 11,032 shares of the company’s stock worth $352,000 after purchasing an additional 1,012 shares during the period. First Trust Advisors LP acquired a new position in shares of MetroCity Bankshares in the 4th quarter worth approximately $490,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MetroCity Bankshares in the 4th quarter worth approximately $562,000. Institutional investors and hedge funds own 25.33% of the company’s stock.

MetroCity Bankshares Stock Down 1.3%

MetroCity Bankshares stock opened at $29.20 on Friday. 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 12-month low of $23.27 and a 12-month high of $36.15. The firm’s fifty day moving average is $27.49 and its 200 day moving average is $30.48. The company has a market capitalization of $741.74 million, a PE ratio of 11.63 and a beta of 0.66.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Friday, April 18th. 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%. The company had revenue of $36.01 million for the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Wednesday, April 30th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.15%. MetroCity Bankshares’s payout ratio is presently 35.80%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods dropped their price target on shares of MetroCity Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd.

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.