Axecap Investments LLC Purchases New Shares in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Axecap Investments LLC purchased a new position in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,293 shares of the company's stock, valued at approximately $863,000. Axecap Investments LLC owned approximately 0.12% of MetroCity Bankshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of MetroCity Bankshares by 3,756.7% in the first quarter. GAMMA Investing LLC now owns 6,865 shares of the company's stock worth $189,000 after buying an additional 6,687 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MetroCity Bankshares by 10.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,434 shares of the company's stock valued at $908,000 after purchasing an additional 2,742 shares in the last quarter. Two Sigma Advisers LP raised its stake in MetroCity Bankshares by 7.7% in the fourth quarter. Two Sigma Advisers LP now owns 14,000 shares of the company's stock valued at $447,000 after purchasing an additional 1,000 shares in the last quarter. Nuveen Asset Management LLC raised its stake in MetroCity Bankshares by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 68,503 shares of the company's stock valued at $2,189,000 after purchasing an additional 3,416 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MetroCity Bankshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company's stock valued at $336,000 after purchasing an additional 364 shares in the last quarter. 25.33% of the stock is owned by hedge funds and other institutional investors.

MetroCity Bankshares Price Performance

Shares of MCBS stock traded down $0.24 during trading hours on Thursday, hitting $28.00. 23,453 shares of the company's stock were exchanged, compared to its average volume of 41,492. The company has a market capitalization of $711.26 million, a PE ratio of 11.16 and a beta of 0.63. MetroCity Bankshares, Inc. has a 12-month low of $23.60 and a 12-month high of $36.15. The business's 50 day simple moving average is $27.75 and its 200-day simple moving average is $29.86. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last posted its quarterly 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. The firm had revenue of $36.01 million for the quarter, compared to the consensus estimate 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 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 3.29%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's payout ratio is 35.80%.

Wall Street Analysts Forecast Growth

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

MetroCity Bankshares Company 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.