Bridgeway Capital Management LLC Cuts Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Bridgeway Capital Management LLC lowered its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 56.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,291 shares of the company's stock after selling 12,114 shares during the period. Bridgeway Capital Management LLC's holdings in MetroCity Bankshares were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in MetroCity Bankshares by 42.0% during the 4th quarter. Bank of America Corp DE now owns 21,317 shares of the company's stock worth $681,000 after buying an additional 6,308 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of MetroCity Bankshares during the 4th quarter worth approximately $83,000. PDT Partners LLC boosted its position in MetroCity Bankshares by 34.7% in the fourth quarter. PDT Partners LLC now owns 10,041 shares of the company's stock valued at $321,000 after buying an additional 2,587 shares in the last quarter. Northern Trust Corp boosted its position in MetroCity Bankshares by 6.5% in the fourth quarter. Northern Trust Corp now owns 164,993 shares of the company's stock valued at $5,272,000 after buying an additional 10,057 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of MetroCity Bankshares during the fourth quarter valued at $224,000. Institutional investors and hedge funds own 25.33% of the company's stock.

MetroCity Bankshares Trading Down 1.3%

MCBS traded down $0.37 during trading on Friday, hitting $29.20. 34,801 shares of the stock traded hands, compared to its average volume of 40,991. The firm has a 50-day moving average of $27.49 and a 200 day moving average of $30.49. MetroCity Bankshares, Inc. has a 12-month low of $23.27 and a 12-month high of $36.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $741.74 million, a P/E ratio of 11.63 and a beta of 0.66.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last announced its quarterly earnings results on Friday, April 18th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. The firm had revenue of $36.01 million for the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's payout ratio is 35.80%.

Analysts Set New Price Targets

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

MetroCity Bankshares 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.