MetroCity Bankshares, Inc. (NASDAQ:MCBS) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 402,397 shares of the company's stock after buying an additional 14,215 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.59% of MetroCity Bankshares worth $12,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MCBS. First Trust Advisors LP purchased a new position in MetroCity Bankshares during the 4th quarter valued at about $490,000. Barclays PLC increased its stake in shares of MetroCity Bankshares by 16.7% during the 4th quarter. Barclays PLC now owns 33,081 shares of the company's stock worth $1,056,000 after purchasing an additional 4,740 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of MetroCity Bankshares by 24.0% during the 4th quarter. Wells Fargo & Company MN now owns 23,331 shares of the company's stock worth $745,000 after purchasing an additional 4,515 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in MetroCity Bankshares by 81.4% in the 4th quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company's stock valued at $2,501,000 after buying an additional 35,118 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in MetroCity Bankshares during the 4th quarter valued at $99,000. 25.33% of the stock is currently owned by hedge funds and other institutional investors.

MetroCity Bankshares Trading Up 0.5%

Shares of NASDAQ MCBS traded up $0.16 during midday trading on Thursday, reaching $29.51. 2,888 shares of the stock were exchanged, compared to its average volume of 40,714. The stock has a 50 day moving average price of $27.41 and a 200-day moving average price of $30.49. 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 company has a market capitalization of $749.49 million, a P/E ratio of 11.76 and a beta of 0.66. MetroCity Bankshares, Inc. has a 52-week low of $23.27 and a 52-week high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last released its earnings results on Friday, April 18th. The company reported $0.63 EPS for the quarter, topping 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%. The firm had revenue of $36.01 million during the quarter, compared to analysts' expectations of $35.20 million.

MetroCity Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Wednesday, April 30th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.92 annualized dividend and a yield of 3.12%. MetroCity Bankshares's dividend payout ratio (DPR) is presently 35.80%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their price objective on MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock 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.