MetroCity Bankshares, Inc. $MCBS Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in MetroCity Bankshares by 22.7%, owning 1.49% of the company, valued at approximately $10.46 million.
• MetroCity Bankshares recently reported a quarterly earnings per share (EPS) of $0.65, exceeding analyst expectations of $0.63, with revenues of $37.91 million.
• The company announced a quarterly dividend increase from $0.23 to $0.25 per share, resulting in an annualized dividend yield of 3.3% and a dividend payout ratio of 39.06%.

American Century Companies Inc. raised its holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 22.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,399 shares of the company's stock after buying an additional 70,135 shares during the period. American Century Companies Inc. owned about 1.49% of MetroCity Bankshares worth $10,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in MetroCity Bankshares by 3.5% during the first quarter. Vanguard Group Inc. now owns 1,010,491 shares of the company's stock worth $27,859,000 after purchasing an additional 34,335 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MetroCity Bankshares by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company's stock valued at $12,857,000 after buying an additional 14,215 shares in the last quarter. Northern Trust Corp grew its position in shares of MetroCity Bankshares by 6.5% in the 4th quarter. Northern Trust Corp now owns 164,993 shares of the company's stock valued at $5,272,000 after buying an additional 10,057 shares during the last quarter. Nuveen Asset Management LLC raised its stake in MetroCity Bankshares by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 68,503 shares of the company's stock worth $2,189,000 after acquiring an additional 3,416 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in MetroCity Bankshares in the first quarter valued at $1,889,000. 25.33% of the stock is owned by institutional investors and hedge funds.

MetroCity Bankshares Stock Performance

NASDAQ MCBS traded down $0.05 during trading hours on Monday, hitting $29.94. The company had a trading volume of 18,211 shares, compared to its average volume of 31,638. The business has a 50 day moving average of $28.99 and a 200-day moving average of $28.33. The company has a market cap of $764.67 million, a PE ratio of 11.70 and a beta of 0.67. MetroCity Bankshares, Inc. has a 1-year low of $24.24 and a 1-year high of $36.15. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.26 and a current ratio of 1.27.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last posted its earnings results on Friday, July 18th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $37.91 million for the quarter, compared to analysts' expectations of $36.10 million. MetroCity Bankshares had a return on equity of 15.61% and a net margin of 27.98%.

MetroCity Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. This is a positive change from MetroCity Bankshares's previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, July 30th. MetroCity Bankshares's payout ratio is currently 39.06%.

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.