Axecap Investments LLC Invests $863,000 in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Axecap Investments LLC bought a new stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of MetroCity Bankshares in the fourth quarter valued at $83,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MetroCity Bankshares by 3.6% during the 4th 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in MetroCity Bankshares by 81.4% during the 4th quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company's stock valued at $2,501,000 after purchasing an additional 35,118 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in MetroCity Bankshares during the 4th quarter valued at $205,000. Finally, Dimensional Fund Advisors LP lifted its holdings in MetroCity Bankshares by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company's stock valued at $12,857,000 after purchasing an additional 14,215 shares during the last quarter. 25.33% of the stock is owned by institutional investors.

MetroCity Bankshares Stock Performance

MetroCity Bankshares stock traded down $0.85 during mid-day trading on Friday, hitting $27.15. 34,139 shares of the company's stock traded hands, compared to its average volume of 41,664. The firm has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $29.73. MetroCity Bankshares, Inc. has a fifty-two week low of $23.67 and a fifty-two week high of $36.15. The stock has a market cap of $689.66 million, a price-to-earnings ratio of 10.82 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24.

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 the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. The business had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Wednesday, April 30th. MetroCity Bankshares's dividend payout ratio is currently 35.80%.

Analyst Upgrades and Downgrades

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