Dimensional Fund Advisors LP Purchases 14,215 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Dimensional Fund Advisors LP lifted its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned 1.59% of MetroCity Bankshares worth $12,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. KLP Kapitalforvaltning AS purchased a new stake in MetroCity Bankshares in the 4th quarter worth approximately $99,000. SG Americas Securities LLC increased its stake in shares of MetroCity Bankshares by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock worth $262,000 after acquiring an additional 1,280 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of MetroCity Bankshares in the fourth quarter worth $490,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MetroCity Bankshares during the fourth quarter worth $562,000. Finally, Teacher Retirement System of Texas boosted its position in MetroCity Bankshares by 14.9% during the fourth quarter. Teacher Retirement System of Texas now owns 20,176 shares of the company's stock valued at $645,000 after purchasing an additional 2,614 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors and hedge funds.

MetroCity Bankshares Stock Up 2.5%

NASDAQ MCBS traded up $0.72 during trading on Monday, reaching $29.31. The company's stock had a trading volume of 33,876 shares, compared to its average volume of 40,761. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $744.56 million, a PE ratio of 11.68 and a beta of 0.66. MetroCity Bankshares, Inc. has a 1-year low of $23.27 and a 1-year high of $36.15. The business has a 50-day moving average price of $27.36 and a 200-day moving average price of $30.51.

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

MetroCity Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. MetroCity Bankshares's dividend payout ratio (DPR) is presently 35.80%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their target price on 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.

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.