Millennium Management LLC Trims Stock Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Millennium Management LLC trimmed its holdings in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 22.0% during the fourth quarter, according to its most recent 13F filing with the 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 approximately 0.18% of MetroCity Bankshares worth $1,462,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 acquiring an additional 364 shares during the period. MetLife Investment Management LLC boosted its position in shares of MetroCity Bankshares by 10.1% during the 4th quarter. MetLife Investment Management LLC now owns 11,032 shares of the company's stock worth $352,000 after purchasing an additional 1,012 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MetroCity Bankshares by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 148,831 shares of the company's stock valued at $4,755,000 after buying an additional 1,086 shares during the period. SG Americas Securities LLC increased its position in MetroCity Bankshares by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock valued at $262,000 after buying an additional 1,280 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in MetroCity Bankshares by 42.5% in the 4th quarter. Lazard Asset Management LLC now owns 8,621 shares of the company's stock valued at $275,000 after buying an additional 2,572 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price target on MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd.

MetroCity Bankshares Stock Up 1.1%

NASDAQ MCBS traded up $0.30 during mid-day trading on Friday, hitting $27.61. The company's stock had a trading volume of 5,618 shares, compared to its average volume of 41,009. MetroCity Bankshares, Inc. has a twelve month low of $23.27 and a twelve month high of $36.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $701.25 million, a price-to-earnings ratio of 11.00 and a beta of 0.63. The company's 50 day simple moving average is $27.62 and its 200 day simple moving average is $30.03.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings results on Friday, April 18th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $36.01 million for the quarter, compared to analyst estimates of $35.20 million. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%.

MetroCity Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Wednesday, April 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's payout ratio is currently 35.80%.

MetroCity Bankshares 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.