Dimensional Fund Advisors LP Grows Holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Dimensional Fund Advisors LP raised its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 3.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 402,397 shares of the company’s stock after purchasing an additional 14,215 shares during the quarter. Dimensional Fund Advisors LP’s holdings in MetroCity Bankshares were worth $12,857,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MCBS. Barclays PLC raised its position in MetroCity Bankshares by 345.5% during the third quarter. Barclays PLC now owns 28,341 shares of the company’s stock valued at $868,000 after purchasing an additional 21,979 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of MetroCity Bankshares by 119.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,158 shares of the company’s stock valued at $1,321,000 after purchasing an additional 23,515 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 buying an additional 1,280 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in MetroCity Bankshares by 11.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 34,237 shares of the company’s stock worth $1,094,000 after buying an additional 3,493 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in MetroCity Bankshares by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 148,831 shares of the company’s stock worth $4,755,000 after buying an additional 1,086 shares in the last quarter. 25.33% of the stock is owned by institutional investors.

MetroCity Bankshares Stock Performance

MetroCity Bankshares stock opened at $28.54 on Friday. The firm has a fifty day simple moving average of $27.36 and a two-hundred day simple moving average of $30.51. MetroCity Bankshares, Inc. has a twelve month low of $23.27 and a twelve month high of $36.15. The company has a market capitalization of $725.00 million, a PE ratio of 11.37 and a beta of 0.66. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares (NASDAQ:MCBS) last issued its 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 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 15.98% and a net margin of 27.33%.

MetroCity Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Wednesday, April 30th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, April 30th. MetroCity Bankshares’s dividend payout ratio is 35.80%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price target on shares of MetroCity Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd.

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.