Charles Schwab Investment Management Inc. Buys 1,086 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Charles Schwab Investment Management Inc. grew its position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 0.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 148,831 shares of the company’s stock after acquiring an additional 1,086 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MetroCity Bankshares were worth $4,755,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCBS. PDT Partners LLC bought a new position in shares of MetroCity Bankshares during the third quarter valued at approximately $228,000. SG Americas Securities LLC raised its stake in shares of MetroCity Bankshares by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 8,212 shares of the company’s stock worth $262,000 after purchasing an additional 1,280 shares during the last quarter. Franklin Resources Inc. grew its stake 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 worth $358,000 after acquiring an additional 1,557 shares during the period. Jane Street Group LLC raised its holdings in shares of MetroCity Bankshares by 2.3% during the third quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock valued at $501,000 after purchasing an additional 370 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of MetroCity Bankshares by 345.5% during 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. Institutional investors own 25.33% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised 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

NASDAQ MCBS opened at $27.48 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a 12 month low of $21.89 and a 12 month high of $36.15. The stock has a market cap of $698.07 million, a price-to-earnings ratio of 10.95 and a beta of 0.58. The company’s 50 day moving average is $30.08 and its two-hundred day moving average is $31.26.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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%. During the same period in the previous year, the firm earned $0.65 earnings per share.

MetroCity Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th were given a $0.23 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.35%. MetroCity Bankshares’s payout ratio is 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.