BNP Paribas Financial Markets Makes New $83,000 Investment in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

BNP Paribas Financial Markets acquired a new stake in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,591 shares of the company’s stock, valued at approximately $83,000.

Several other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of MetroCity Bankshares by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company’s stock valued at $12,857,000 after purchasing an additional 14,215 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of MetroCity Bankshares by 34.4% during the 4th quarter. American Century Companies Inc. now owns 309,264 shares of the company’s stock valued at $9,881,000 after purchasing an additional 79,080 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of MetroCity Bankshares by 6.5% during the 4th quarter. Northern Trust Corp now owns 164,993 shares of the company’s stock valued at $5,272,000 after purchasing an additional 10,057 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 1,086 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of MetroCity Bankshares by 81.4% during the 4th quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company’s stock valued at $2,501,000 after purchasing an additional 35,118 shares in the last quarter. Institutional investors own 25.33% of the company’s stock.

Analysts Set New Price Targets

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

MetroCity Bankshares Stock Down 0.3%

Shares of MetroCity Bankshares stock opened at $28.06 on Monday. The business’s 50 day simple moving average is $27.62 and its 200 day simple moving average is $30.15. MetroCity Bankshares, Inc. has a 52-week low of $23.27 and a 52-week high of $36.15. The firm has a market cap of $712.78 million, a PE ratio of 11.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.24 and a current ratio of 1.24.

MetroCity Bankshares (NASDAQ:MCBS) last announced 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 return on equity of 15.98% and a net margin of 27.33%. The business had revenue of $36.01 million for the quarter, compared to analyst estimates of $35.20 million.

MetroCity Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Wednesday, April 30th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares’s dividend payout ratio is presently 35.80%.

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.