Vanguard Group Inc. Sells 62,955 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Vanguard Group Inc. cut its holdings in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 895,620 shares of the company's stock after selling 62,955 shares during the quarter. Vanguard Group Inc. owned about 3.55% of MetroCity Bankshares worth $17,626,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Gyon Technologies Capital Management LP acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth $53,000. Tower Research Capital LLC TRC lifted its holdings in shares of MetroCity Bankshares by 225.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,961 shares of the company's stock worth $58,000 after acquiring an additional 2,050 shares during the period. Citigroup Inc. lifted its holdings in shares of MetroCity Bankshares by 1,143.4% during the 2nd 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. Barclays PLC boosted its position in shares of MetroCity Bankshares by 450.3% during the 4th quarter. Barclays PLC now owns 5,013 shares of the company's stock worth $108,000 after acquiring an additional 4,102 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in 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 acquiring an additional 3,615 shares during the last quarter. Institutional investors and hedge funds own 25.33% of the company's stock.

MetroCity Bankshares Price Performance

Shares of MCBS stock traded up $0.14 during trading hours on Monday, reaching $22.91. The company's stock had a trading volume of 8,769 shares, compared to its average volume of 21,550. MetroCity Bankshares, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $26.23. The firm's 50 day simple moving average is $23.84 and its 200-day simple moving average is $22.65. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $577.56 million, a price-to-earnings ratio of 11.27 and a beta of 0.57.

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

MetroCity Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Wednesday, January 31st were paid a $0.20 dividend. This is an increase from MetroCity Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.80 annualized dividend and a yield of 3.49%. MetroCity Bankshares's dividend payout ratio is presently 39.60%.

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.