First Trust Advisors LP Acquires Shares of 15,332 MetroCity Bankshares, Inc. (NASDAQ:MCBS)

First Trust Advisors LP bought a new position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 15,332 shares of the company's stock, valued at approximately $490,000. First Trust Advisors LP owned 0.06% of MetroCity Bankshares at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCBS. Barclays PLC increased its stake in shares of MetroCity Bankshares by 345.5% in the third quarter. Barclays PLC now owns 28,341 shares of the company's stock worth $868,000 after purchasing an additional 21,979 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in MetroCity Bankshares by 81.4% in the 4th quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company's stock worth $2,501,000 after buying an additional 35,118 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in MetroCity Bankshares in the 4th quarter valued at approximately $562,000. SG Americas Securities LLC raised its holdings in MetroCity Bankshares by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 8,212 shares of the company's stock valued at $262,000 after acquiring an additional 1,280 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MetroCity Bankshares during the fourth quarter worth $99,000. 25.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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 report on Tuesday, April 22nd.

MetroCity Bankshares Price Performance

Shares of NASDAQ MCBS traded up $0.72 during trading hours on Monday, reaching $29.31. 33,876 shares of the stock traded hands, compared to its average volume of 40,761. The company's 50-day simple moving average is $27.36 and its two-hundred day simple moving average is $30.51. The company has a market capitalization of $744.56 million, a P/E ratio of 11.68 and a beta of 0.66. MetroCity Bankshares, Inc. has a 52-week low of $23.27 and a 52-week high of $36.15. 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 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. The firm had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Dividend Announcement

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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, April 30th. MetroCity Bankshares's dividend payout ratio (DPR) is presently 35.80%.

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.