Millennium Management LLC Trims Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Millennium Management LLC cut its holdings in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 22.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,744 shares of the company’s stock after selling 12,876 shares during the quarter. Millennium Management LLC owned 0.18% of MetroCity Bankshares worth $1,462,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased 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. Janus Henderson Group PLC purchased a new position in MetroCity Bankshares in the fourth quarter valued at $205,000. Dimensional Fund Advisors LP increased its holdings in MetroCity Bankshares by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company’s stock valued at $12,857,000 after buying an additional 14,215 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in MetroCity Bankshares in the fourth quarter valued at $562,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MetroCity Bankshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company’s stock valued at $336,000 after buying an additional 364 shares in the last quarter. 25.33% of the stock is owned by hedge funds and other institutional investors.

MetroCity Bankshares Price Performance

Shares of NASDAQ MCBS opened at $27.97 on Wednesday. The firm has a 50-day simple moving average of $27.63 and a 200-day simple moving average of $30.09. The stock has a market capitalization of $710.49 million, a price-to-earnings ratio of 11.14 and a beta of 0.66. 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 52 week low of $23.27 and a 52 week high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Friday, April 18th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.20 million. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%.

MetroCity Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Wednesday, April 30th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Wednesday, April 30th. MetroCity Bankshares’s dividend payout ratio (DPR) is 35.80%.

Analyst Upgrades and Downgrades

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

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.