Nuveen LLC Makes New $1.89 Million Investment in MetroCity Bankshares, Inc. $MCBS

Nuveen LLC acquired a new position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 68,503 shares of the company’s stock, valued at approximately $1,889,000. Nuveen LLC owned about 0.27% of MetroCity Bankshares as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCBS. Vanguard Group Inc. lifted its position in MetroCity Bankshares by 3.5% during the first quarter. Vanguard Group Inc. now owns 1,010,491 shares of the company’s stock worth $27,859,000 after acquiring an additional 34,335 shares during the last quarter. Axecap Investments LLC acquired a new stake in shares of MetroCity Bankshares in the first quarter valued at approximately $863,000. First Trust Advisors LP acquired a new stake in shares of MetroCity Bankshares in the fourth quarter valued at approximately $490,000. Dimensional Fund Advisors LP raised its position in shares of 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. Finally, Northern Trust Corp raised its position in shares of MetroCity Bankshares by 6.5% in the fourth quarter. Northern Trust Corp now owns 164,993 shares of the company’s stock valued at $5,272,000 after buying an additional 10,057 shares in the last quarter. 25.33% of the stock is currently owned by institutional investors and hedge funds.

MetroCity Bankshares Stock Down 0.2%

NASDAQ MCBS opened at $29.94 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 0.97. MetroCity Bankshares, Inc. has a 1-year low of $24.24 and a 1-year high of $36.15. The company has a 50 day moving average of $28.95 and a 200-day moving average of $28.36. The company has a market cap of $764.67 million, a price-to-earnings ratio of 11.70 and a beta of 0.64.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings results on Friday, July 18th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. MetroCity Bankshares had a net margin of 27.98% and a return on equity of 15.61%. The company had revenue of $37.91 million during the quarter, compared to the consensus estimate of $36.10 million.

MetroCity Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 30th were given a $0.25 dividend. The ex-dividend date was Wednesday, July 30th. This is a positive change from MetroCity Bankshares’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 39.06%.

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.