First Trust Advisors LP Purchases New Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

First Trust Advisors LP acquired a new stake in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,332 shares of the company's stock, valued at approximately $490,000. First Trust Advisors LP owned about 0.06% of MetroCity Bankshares as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of MetroCity Bankshares by 0.7% during 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 in the last quarter. SG Americas Securities LLC increased its stake in MetroCity Bankshares by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock worth $262,000 after acquiring an additional 1,280 shares during the last quarter. Teacher Retirement System of Texas raised its position in MetroCity Bankshares by 14.9% during the fourth quarter. Teacher Retirement System of Texas now owns 20,176 shares of the company's stock valued at $645,000 after purchasing an additional 2,614 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of MetroCity Bankshares in the 4th quarter valued at approximately $99,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of MetroCity Bankshares by 11.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 34,237 shares of the company's stock worth $1,094,000 after purchasing an additional 3,493 shares during the period. Hedge funds and other institutional investors own 25.33% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods decreased 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 Trading Up 0.5%

Shares of MetroCity Bankshares stock traded up $0.16 during trading on Thursday, hitting $29.51. The stock had a trading volume of 2,888 shares, compared to its average volume of 40,714. MetroCity Bankshares, Inc. has a 12 month low of $23.27 and a 12 month high of $36.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The firm's fifty day simple moving average is $27.41 and its 200-day simple moving average is $30.49. The stock has a market cap of $749.49 million, a PE ratio of 11.76 and a beta of 0.66.

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

MetroCity Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Wednesday, April 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, April 30th. MetroCity Bankshares's payout ratio is presently 35.80%.

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.