BlackRock Inc. bought a new stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,812,566 shares of the company's stock, valued at approximately $65,053,000. BlackRock Inc. owned 6.32% of MetroCity Bankshares as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in MetroCity Bankshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company's stock worth $302,000 after buying an additional 468 shares during the last quarter. CWM LLC grew its holdings in shares of MetroCity Bankshares by 49.5% during the fourth quarter. CWM LLC now owns 1,428 shares of the company's stock valued at $38,000 after buying an additional 473 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of MetroCity Bankshares by 21.5% during the second quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company's stock valued at $87,000 after buying an additional 540 shares during the last quarter. Swiss National Bank increased its position in shares of MetroCity Bankshares by 2.3% during the fourth quarter. Swiss National Bank now owns 40,262 shares of the company's stock worth $1,069,000 after acquiring an additional 900 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of MetroCity Bankshares by 7.8% during the second quarter. First Trust Advisors LP now owns 16,396 shares of the company's stock worth $469,000 after acquiring an additional 1,189 shares in the last quarter. 25.33% of the stock is currently owned by institutional investors.
MetroCity Bankshares Stock Performance
Shares of MetroCity Bankshares stock opened at $35.14 on Monday. The stock has a market capitalization of $1.01 billion, a P/E ratio of 12.20 and a beta of 0.69. MetroCity Bankshares, Inc. has a 52-week low of $24.53 and a 52-week high of $37.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.21. The stock's 50-day simple moving average is $35.73 and its 200 day simple moving average is $32.54.
MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.05). MetroCity Bankshares had a return on equity of 15.16% and a net margin of 28.40%.The company had revenue of $49.80 million for the quarter, compared to analysts' expectations of $52.40 million.
MetroCity Bankshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Wednesday, July 29th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, July 29th. MetroCity Bankshares's payout ratio is presently 40.28%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MCBS. Wall Street Zen lowered shares of MetroCity Bankshares from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reissued a "buy (b)" rating on shares of MetroCity Bankshares in a research report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, MetroCity Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.
View Our Latest Research Report on MetroCity Bankshares
About MetroCity Bankshares
(
Free Report)
MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.
MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.
Further Reading
Want to see what other hedge funds are holding MCBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report).
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