MetroCity Bankshares, Inc. $MCBS Stock Position Reduced by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 63.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,414 shares of the company’s stock after selling 36,153 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned 0.08% of MetroCity Bankshares worth $542,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MetroCity Bankshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock valued at $302,000 after acquiring an additional 468 shares in the last quarter. Jane Street Group LLC acquired a new position in MetroCity Bankshares in the first quarter worth $717,000. Legal & General Group Plc boosted its holdings in MetroCity Bankshares by 8.0% in the second quarter. Legal & General Group Plc now owns 19,744 shares of the company’s stock worth $564,000 after purchasing an additional 1,460 shares during the period. First Trust Advisors LP increased its stake in MetroCity Bankshares by 7.8% during the second quarter. First Trust Advisors LP now owns 16,396 shares of the company’s stock valued at $469,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in MetroCity Bankshares by 14.7% during the second quarter. Qube Research & Technologies Ltd now owns 17,387 shares of the company’s stock valued at $497,000 after purchasing an additional 2,226 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCBS has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of MetroCity Bankshares from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, March 23rd. Weiss Ratings raised shares of MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of MetroCity Bankshares from a “hold” rating to a “buy” rating in a research note on Sunday, March 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

MetroCity Bankshares Price Performance

Shares of MCBS opened at $29.36 on Monday. The company has a market cap of $844.10 million, a P/E ratio of 11.16 and a beta of 0.68. The stock has a fifty day moving average price of $28.61 and a 200 day moving average price of $27.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21. MetroCity Bankshares, Inc. has a 12 month low of $24.24 and a 12 month high of $31.06.

MetroCity Bankshares (NASDAQ:MCBS) last issued its earnings results on Friday, January 30th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The company had revenue of $43.74 million during the quarter, compared to analyst estimates of $44.50 million. MetroCity Bankshares had a return on equity of 14.82% and a net margin of 27.93%.

MetroCity Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. MetroCity Bankshares’s dividend payout ratio is currently 38.02%.

MetroCity Bankshares Profile

MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.

MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.