Goldman Sachs Group Inc. Has $1.50 Million Stake in MetroCity Bankshares, Inc. $MCBS

Key Points

• Goldman Sachs Group Inc. reduced its holdings in MetroCity Bankshares by 31.3% during Q1, now owning approximately $1.5 million worth of shares.
• MetroCity Bankshares reported a net margin of 27.98% and beat earnings estimates with $0.65 earnings per share for the last quarter.
• The company recently increased its quarterly dividend from $0.23 to $0.25, reflecting a 3.4% yield with a payout ratio of 39.06%.

Goldman Sachs Group Inc. reduced its holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,423 shares of the company's stock after selling 24,763 shares during the period. Goldman Sachs Group Inc. owned about 0.21% of MetroCity Bankshares worth $1,500,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in MetroCity Bankshares in the 1st quarter worth about $717,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MetroCity Bankshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company's stock worth $302,000 after acquiring an additional 468 shares in the last quarter. PDT Partners LLC lifted its stake in MetroCity Bankshares by 22.8% in the 1st quarter. PDT Partners LLC now owns 12,331 shares of the company's stock worth $340,000 after acquiring an additional 2,290 shares in the last quarter. American Century Companies Inc. lifted its stake in MetroCity Bankshares by 22.7% in the 1st quarter. American Century Companies Inc. now owns 379,399 shares of the company's stock worth $10,460,000 after acquiring an additional 70,135 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in MetroCity Bankshares in the 1st quarter worth about $1,889,000. 25.33% of the stock is owned by hedge funds and other institutional investors.

MetroCity Bankshares Stock Down 0.5%

MCBS stock traded down $0.16 during mid-day trading on Tuesday, hitting $28.96. The stock had a trading volume of 5,565 shares, compared to its average volume of 37,567. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 0.97. MetroCity Bankshares, Inc. has a 1-year low of $24.24 and a 1-year high of $36.15. The company has a fifty day moving average of $29.00 and a 200 day moving average of $28.26. The stock has a market capitalization of $739.51 million, a price-to-earnings ratio of 11.32 and a beta of 0.67.

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

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, July 30th. This is an increase from MetroCity Bankshares's previous quarterly dividend of $0.23. MetroCity Bankshares's payout ratio is currently 39.06%.

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.