Bridgeway Capital Management LLC Sells 12,114 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Bridgeway Capital Management LLC cut its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 56.6% in the 4th quarter, according to its most recent disclosure with the 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in MetroCity Bankshares during the fourth quarter worth about $83,000. KLP Kapitalforvaltning AS bought a new stake in MetroCity Bankshares in the 4th quarter worth approximately $99,000. Price T Rowe Associates Inc. MD purchased a new stake in MetroCity Bankshares in the fourth quarter worth approximately $224,000. SG Americas Securities LLC grew its position in MetroCity Bankshares by 18.5% during the fourth 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 during the last quarter. Finally, PDT Partners LLC grew its position in MetroCity Bankshares by 34.7% during the fourth quarter. PDT Partners LLC now owns 10,041 shares of the company's stock valued at $321,000 after acquiring an additional 2,587 shares during the last quarter. Institutional investors own 25.33% of the company's stock.

MetroCity Bankshares Stock Performance

NASDAQ MCBS opened at $29.31 on Tuesday. The company has a 50-day simple moving average of $27.38 and a two-hundred day simple moving average of $30.51. MetroCity Bankshares, Inc. has a 12-month low of $23.27 and a 12-month high of $36.15. The firm has a market cap of $744.56 million, a price-to-earnings ratio of 11.68 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 - Get Free Report) last released its earnings results on Friday, April 18th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. The company had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.20 million.

MetroCity Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Wednesday, April 30th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's payout ratio is 35.80%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price objective on shares of MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research note 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.

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