Alliancebernstein L.P. lessened its position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 80.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,700 shares of the company’s stock after selling 41,007 shares during the period. Alliancebernstein L.P.’s holdings in MetroCity Bankshares were worth $203,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in MetroCity Bankshares during the second quarter worth $176,000. Charles Schwab Investment Management Inc. increased its stake in MetroCity Bankshares by 3.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 131,689 shares of the company’s stock valued at $2,306,000 after purchasing an additional 4,784 shares in the last quarter. Northern Trust Corp increased its stake in MetroCity Bankshares by 3.5% in the second quarter. Northern Trust Corp now owns 178,565 shares of the company’s stock valued at $3,127,000 after purchasing an additional 6,059 shares in the last quarter. Nuveen Asset Management LLC increased its stake in MetroCity Bankshares by 17.8% in the second quarter. Nuveen Asset Management LLC now owns 69,381 shares of the company’s stock valued at $1,215,000 after purchasing an additional 10,476 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MetroCity Bankshares by 15.1% in the second quarter. Geode Capital Management LLC now owns 283,532 shares of the company’s stock valued at $4,964,000 after purchasing an additional 37,093 shares in the last quarter. 14.87% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded shares of MetroCity Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, December 28th.
MCBS opened at $25.01 on Tuesday. MetroCity Bankshares, Inc. has a 1-year low of $14.00 and a 1-year high of $29.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.09. The company has a market cap of $636.88 million, a P/E ratio of 10.42 and a beta of 0.55. The company has a fifty day moving average price of $26.95 and a two-hundred day moving average price of $24.18.
MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Monday, January 24th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. MetroCity Bankshares had a net margin of 43.29% and a return on equity of 23.26%.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Stockholders of record on Wednesday, February 2nd were issued a dividend of $0.15 per share. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Tuesday, February 1st. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 25.00%.
MetroCity Bankshares Company Profile
MetroCity Bankshares, Inc is a bank holding company, which engages in the provision of commercial bank services. The firm offers customary banking services as consumer and commercial checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, single family residential loans, and money transfers services.
Further Reading
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