MetroCity Bankshares, Inc. (NASDAQ:MCBS) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,351 shares of the company's stock after selling 10,388 shares during the period. Geode Capital Management LLC owned about 1.64% of MetroCity Bankshares worth $13,242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in shares of MetroCity Bankshares by 2.9% during the third quarter. State Street Corp now owns 429,312 shares of the company's stock worth $13,146,000 after purchasing an additional 11,900 shares in the last quarter. Barclays PLC increased its position in MetroCity Bankshares by 345.5% during the third quarter. Barclays PLC now owns 28,341 shares of the company's stock worth $868,000 after buying an additional 21,979 shares during the period. Franklin Resources Inc. boosted its holdings in shares of MetroCity Bankshares by 15.4% in the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company's stock valued at $358,000 after acquiring an additional 1,557 shares during the period. JPMorgan Chase & Co. grew its position in shares of MetroCity Bankshares by 119.7% during the third quarter. JPMorgan Chase & Co. now owns 43,158 shares of the company's stock worth $1,321,000 after acquiring an additional 23,515 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of MetroCity Bankshares by 2.3% in the 3rd quarter. Jane Street Group LLC now owns 16,357 shares of the company's stock valued at $501,000 after acquiring an additional 370 shares during the period. 25.33% of the stock is owned by institutional investors and hedge funds.

MetroCity Bankshares Stock Performance

Shares of NASDAQ:MCBS traded down $0.41 during trading on Friday, reaching $27.60. The company had a trading volume of 26,583 shares, compared to its average volume of 40,130. 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 stock's fifty day moving average price is $27.74 and its 200 day moving average price is $30.69. MetroCity Bankshares, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $36.15. The firm has a market capitalization of $701.12 million, a price-to-earnings ratio of 11.00 and a beta of 0.51.

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. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. The firm had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered 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.

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.