UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 2,742 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,434 shares of the company’s stock after purchasing an additional 2,742 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of MetroCity Bankshares worth $908,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MetroCity Bankshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company’s stock valued at $336,000 after purchasing an additional 364 shares during the period. Two Sigma Advisers LP boosted its holdings in MetroCity Bankshares by 7.7% in the 4th quarter. Two Sigma Advisers LP now owns 14,000 shares of the company’s stock valued at $447,000 after purchasing an additional 1,000 shares during the period. MetLife Investment Management LLC boosted its holdings in MetroCity Bankshares by 10.1% in the 4th quarter. MetLife Investment Management LLC now owns 11,032 shares of the company’s stock valued at $352,000 after purchasing an additional 1,012 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in MetroCity Bankshares by 0.7% in 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 during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of MetroCity Bankshares by 42.5% during the 4th quarter. Lazard Asset Management LLC now owns 8,621 shares of the company’s stock worth $275,000 after acquiring an additional 2,572 shares during the period. 25.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

MetroCity Bankshares Price Performance

NASDAQ:MCBS opened at $28.67 on Wednesday. The company has a 50-day moving average of $27.69 and a 200-day moving average of $29.87. The company has a market capitalization of $728.28 million, a price-to-earnings ratio of 11.42 and a beta of 0.63. MetroCity Bankshares, Inc. has a 52 week low of $23.27 and a 52 week high of $36.15. 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 released its quarterly earnings data on Friday, April 18th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.20 million. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%.

MetroCity Bankshares Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 3.21%. The ex-dividend date was Wednesday, April 30th. MetroCity Bankshares’s dividend payout ratio is currently 35.80%.

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.