MetroCity Bankshares, Inc. (NASDAQ:MCBS) Shares Sold by Cape Investment Advisory Inc.

Cape Investment Advisory Inc. lessened its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 14.8% in the 4th quarter, Holdings Channel reports. The fund owned 59,500 shares of the company’s stock after selling 10,300 shares during the period. MetroCity Bankshares accounts for approximately 0.7% of Cape Investment Advisory Inc.’s holdings, making the stock its 26th biggest position. Cape Investment Advisory Inc.’s holdings in MetroCity Bankshares were worth $1,901,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in MetroCity Bankshares by 119.7% in the third quarter. JPMorgan Chase & Co. now owns 43,158 shares of the company’s stock valued at $1,321,000 after purchasing an additional 23,515 shares during the period. Barclays PLC lifted its holdings in shares of MetroCity Bankshares by 345.5% in the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock valued at $868,000 after buying an additional 21,979 shares during the period. State Street Corp lifted its holdings in MetroCity Bankshares by 2.9% in the third quarter. State Street Corp now owns 429,312 shares of the company’s stock valued at $13,146,000 after acquiring an additional 11,900 shares during the period. Creative Planning acquired a new stake in MetroCity Bankshares in the third quarter valued at $331,000. Finally, GSA Capital Partners LLP acquired a new stake in MetroCity Bankshares in the third quarter valued at $251,000. Institutional investors and hedge funds own 25.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of MetroCity Bankshares from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

MetroCity Bankshares Price Performance

Shares of NASDAQ:MCBS opened at $30.28 on Friday. The business’s 50 day simple moving average is $31.36 and its 200-day simple moving average is $31.39. 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 has a market capitalization of $767.05 million, a price-to-earnings ratio of 12.06 and a beta of 0.62. MetroCity Bankshares, Inc. has a 12 month low of $21.89 and a 12 month high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Tuesday, January 21st. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. During the same quarter in the prior year, the business earned $0.65 EPS.

MetroCity Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Wednesday, January 29th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.04%. MetroCity Bankshares’s dividend payout ratio is presently 36.65%.

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.