Northern Trust Corp Boosts Stock Holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Northern Trust Corp grew its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,993 shares of the company's stock after acquiring an additional 10,057 shares during the period. Northern Trust Corp owned 0.65% of MetroCity Bankshares worth $5,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of MetroCity Bankshares during the fourth quarter worth $99,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth approximately $224,000. SG Americas Securities LLC boosted its position in shares of MetroCity Bankshares by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock worth $262,000 after purchasing an additional 1,280 shares during the last quarter. MetLife Investment Management LLC increased its stake in MetroCity Bankshares by 10.1% in the fourth quarter. MetLife Investment Management LLC now owns 11,032 shares of the company's stock valued at $352,000 after purchasing an additional 1,012 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in MetroCity Bankshares during the 4th quarter worth approximately $490,000. 25.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MetroCity Bankshares Stock Down 1.0%

Shares of NASDAQ:MCBS traded down $0.29 during midday trading on Monday, hitting $27.58. The stock had a trading volume of 23,504 shares, compared to its average volume of 41,047. The company has a market cap of $700.59 million, a P/E ratio of 10.99 and a beta of 0.66. MetroCity Bankshares, Inc. has a 12 month low of $23.27 and a 12 month high of $36.15. The business's 50-day simple moving average is $27.58 and its 200-day simple moving average is $30.33. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92.

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

MetroCity Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's dividend payout ratio (DPR) is presently 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.