Geode Capital Management LLC Reduces Stock Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Geode Capital Management LLC trimmed its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 414,351 shares of the company’s stock after selling 10,388 shares during the quarter. Geode Capital Management LLC’s holdings in MetroCity Bankshares were worth $13,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in MetroCity Bankshares by 2.9% during the third quarter. State Street Corp now owns 429,312 shares of the company’s stock valued at $13,146,000 after purchasing an additional 11,900 shares during the period. Jane Street Group LLC lifted its holdings in shares of MetroCity Bankshares by 2.3% in the 3rd quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock valued at $501,000 after buying an additional 370 shares during the period. Barclays PLC lifted its holdings in shares of MetroCity Bankshares by 345.5% in the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock valued at $868,000 after buying an additional 21,979 shares during the period. Franklin Resources Inc. boosted its stake in shares of MetroCity Bankshares by 15.4% in the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock worth $358,000 after buying an additional 1,557 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in MetroCity Bankshares by 119.7% during the third quarter. JPMorgan Chase & Co. now owns 43,158 shares of the company’s stock worth $1,321,000 after acquiring an additional 23,515 shares during the period. Institutional investors and hedge funds own 25.33% of the company’s stock.

MetroCity Bankshares Stock Up 1.9 %

Shares of MCBS stock opened at $27.51 on Tuesday. 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 stock has a 50 day moving average of $28.02 and a 200 day moving average of $30.74. The stock has a market cap of $698.84 million, a P/E ratio of 10.96 and a beta of 0.51.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same quarter last year, the business posted $0.65 earnings per share.

MetroCity Bankshares Dividend Announcement

The company also recently disclosed 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 of this dividend is Wednesday, April 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.34%. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 36.65%.

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.