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

Los Angeles Capital Management LLC lessened its holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,651 shares of the company’s stock after selling 1,300 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MetroCity Bankshares were worth $357,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in MetroCity Bankshares in the third quarter worth about $212,000. Creative Planning acquired a new stake in MetroCity Bankshares in the third quarter worth about $331,000. Sanctuary Advisors LLC acquired a new stake in MetroCity Bankshares in the second quarter worth about $377,000. Bank of New York Mellon Corp boosted its holdings in MetroCity Bankshares by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock worth $3,252,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in MetroCity Bankshares by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock worth $9,612,000 after acquiring an additional 15,796 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.

MetroCity Bankshares Trading Down 0.4 %

MetroCity Bankshares stock opened at $33.91 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a 52 week low of $19.85 and a 52 week high of $35.79. The company has a market capitalization of $858.94 million, a price-to-earnings ratio of 14.62 and a beta of 0.60. The stock has a 50-day moving average price of $30.85 and a 200 day moving average price of $28.28.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Friday, October 18th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%. The firm had revenue of $60.45 million during the quarter.

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 30th were issued a dividend of $0.23 per share. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.71%. MetroCity Bankshares’s payout ratio is 39.66%.

Insider Buying and Selling

In related news, President Farid Tan sold 749 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $35.56, for a total transaction of $26,634.44. Following the sale, the president now owns 920,871 shares in the company, valued at approximately $32,746,172.76. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ajit A. Patel sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the transaction, the director now owns 645,739 shares of the company’s stock, valued at approximately $21,373,960.90. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,817 shares of company stock valued at $2,257,532 over the last quarter. 27.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price on MetroCity Bankshares from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd.

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.