Millennium Management LLC Sells 12,876 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Millennium Management LLC cut its position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 22.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,744 shares of the company's stock after selling 12,876 shares during the period. Millennium Management LLC owned 0.18% of MetroCity Bankshares worth $1,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCBS. American Century Companies Inc. raised its stake in shares of MetroCity Bankshares by 34.4% during the 4th quarter. American Century Companies Inc. now owns 309,264 shares of the company's stock worth $9,881,000 after purchasing an additional 79,080 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of MetroCity Bankshares by 81.4% during the 4th quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company's stock worth $2,501,000 after purchasing an additional 35,118 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MetroCity Bankshares during the 4th quarter worth about $562,000. First Trust Advisors LP purchased a new stake in shares of MetroCity Bankshares during the 4th quarter worth about $490,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of MetroCity Bankshares by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company's stock worth $12,857,000 after purchasing an additional 14,215 shares in the last quarter. 25.33% of the stock is owned by hedge funds and other institutional investors.

MetroCity Bankshares Stock Performance

Shares of MCBS stock traded up $0.58 during trading on Friday, reaching $27.89. The company had a trading volume of 20,578 shares, compared to its average volume of 41,187. The firm's 50 day simple moving average is $27.63 and its two-hundred day simple moving average is $29.99. 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, Inc. has a one year low of $23.27 and a one year high of $36.15. The company has a market capitalization of $708.46 million, a PE ratio of 11.11 and a beta of 0.63.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings data on Friday, April 18th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders 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 yield of 3.30%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's dividend payout ratio (DPR) is 35.80%.

Analyst Ratings Changes

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 research note 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.