MetroCity Bankshares, Inc. (NASDAQ:MCBS) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,881 shares of the company’s stock after selling 4,985 shares during the quarter. Legal & General Group Plc’s holdings in MetroCity Bankshares were worth $539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCBS. KLP Kapitalforvaltning AS purchased a new stake in shares of MetroCity Bankshares during the fourth quarter worth $99,000. SG Americas Securities LLC grew its stake in MetroCity Bankshares by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 8,212 shares of the company’s stock valued at $262,000 after acquiring an additional 1,280 shares in the last quarter. Franklin Resources Inc. raised its holdings in MetroCity Bankshares by 15.4% in the 3rd quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock valued at $358,000 after acquiring an additional 1,557 shares during the last quarter. Jane Street Group LLC lifted its stake in MetroCity Bankshares by 2.3% in the 3rd quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock worth $501,000 after purchasing an additional 370 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MetroCity Bankshares during the 4th quarter worth approximately $562,000. Hedge funds and other institutional investors own 25.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price target on 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 Trading Up 0.8 %

Shares of MCBS stock opened at $28.05 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a twelve month low of $22.25 and a twelve month high of $36.15. The company’s 50-day moving average price is $27.62 and its 200-day moving average price is $30.67. The stock has a market cap of $712.55 million, a price-to-earnings ratio of 11.18 and a beta of 0.51.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Friday, April 18th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $36.01 million during the quarter, compared to analysts’ expectations 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th will be given a $0.23 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.28%. MetroCity Bankshares’s dividend payout ratio is currently 35.80%.

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.