MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Down to $24.96

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MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $24.96, but opened at $23.90. MetroCity Bankshares shares last traded at $23.90, with a volume of 674 shares trading hands.

MetroCity Bankshares Stock Down 4.0 %

The stock has a market cap of $604.03 million, a P/E ratio of 11.86 and a beta of 0.57. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.85. The firm has a 50-day simple moving average of $24.00 and a two-hundred day simple moving average of $22.40.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 24.44% and a return on equity of 13.83%. The company had revenue of $55.38 million during the quarter.

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Wednesday, January 31st were paid a $0.20 dividend. The ex-dividend date was Tuesday, January 30th. This is an increase from MetroCity Bankshares's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 3.34%. MetroCity Bankshares's dividend payout ratio (DPR) is currently 39.60%.


Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MCBS. Gyon Technologies Capital Management LP purchased a new position in MetroCity Bankshares in the fourth quarter valued at approximately $53,000. Tower Research Capital LLC TRC grew its stake in MetroCity Bankshares by 225.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,961 shares of the company's stock valued at $58,000 after buying an additional 2,050 shares in the last quarter. Barclays PLC raised its holdings in MetroCity Bankshares by 450.3% during the 4th quarter. Barclays PLC now owns 5,013 shares of the company's stock valued at $108,000 after acquiring an additional 4,102 shares during the period. Citigroup Inc. boosted its holdings in shares of MetroCity Bankshares by 1,143.4% in the second quarter. Citigroup Inc. now owns 5,931 shares of the company's stock worth $106,000 after acquiring an additional 5,454 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of MetroCity Bankshares by 108.0% in the second quarter. Wells Fargo & Company MN now owns 6,961 shares of the company's stock valued at $125,000 after purchasing an additional 3,615 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company's stock.

About MetroCity Bankshares

(Get Free Report)

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.

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