Rhumbline Advisers Reduces Holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Rhumbline Advisers trimmed its position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,724 shares of the company’s stock after selling 952 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of MetroCity Bankshares worth $847,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in shares of MetroCity Bankshares during the fourth quarter worth approximately $83,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of MetroCity Bankshares by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company’s stock worth $336,000 after purchasing an additional 364 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of MetroCity Bankshares by 81.4% during the fourth quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company’s stock worth $2,501,000 after purchasing an additional 35,118 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MetroCity Bankshares by 10.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,434 shares of the company’s stock worth $908,000 after purchasing an additional 2,742 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of MetroCity Bankshares during the fourth quarter worth approximately $205,000. 25.33% of the stock is currently owned by hedge funds and other institutional investors.

MetroCity Bankshares Stock Up 0.7%

Shares of NASDAQ:MCBS opened at $27.08 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $27.92 and a two-hundred day moving average of $29.50. The stock has a market cap of $687.83 million, a P/E ratio of 10.54 and a beta of 0.63. MetroCity Bankshares, Inc. has a 52-week low of $24.00 and a 52-week high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS) last issued its earnings results on Friday, April 18th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $36.01 million during the quarter, compared to analysts’ expectations of $35.20 million. MetroCity Bankshares had a return on equity of 15.91% and a net margin of 28.03%.

MetroCity Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares’s payout ratio is currently 35.80%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods dropped their price target 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.

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.