Barclays PLC Grows Holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Barclays PLC boosted its holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 345.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,341 shares of the company’s stock after purchasing an additional 21,979 shares during the quarter. Barclays PLC’s holdings in MetroCity Bankshares were worth $868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in MetroCity Bankshares by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock worth $9,612,000 after buying an additional 15,796 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in MetroCity Bankshares during the 2nd quarter worth $377,000. State Street Corp raised its position in MetroCity Bankshares by 2.9% during the 3rd quarter. State Street Corp now owns 429,312 shares of the company’s stock worth $13,146,000 after buying an additional 11,900 shares during the last quarter. Creative Planning purchased a new position in MetroCity Bankshares during the 3rd quarter worth $331,000. Finally, GSA Capital Partners LLP purchased a new position in MetroCity Bankshares during the 3rd quarter worth $251,000. Hedge funds and other institutional investors own 25.33% of the company’s stock.

Insider Activity at MetroCity Bankshares

In related news, President Farid Tan sold 749 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $35.56, for a total value of $26,634.44. Following the sale, the president now directly owns 920,871 shares of the company’s stock, valued at approximately $32,746,172.76. This represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ajit A. Patel sold 5,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the sale, the director now directly owns 645,739 shares in the company, valued at approximately $21,373,960.90. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,600 shares of company stock valued at $1,181,786. Insiders own 27.49% of the company’s stock.

Wall Street Analyst Weigh In

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

MetroCity Bankshares Stock Performance

Shares of MCBS opened at $31.98 on Thursday. The company has a 50-day simple moving average of $33.32 and a 200-day simple moving average of $30.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $810.12 million, a PE ratio of 13.78 and a beta of 0.64. MetroCity Bankshares, Inc. has a 52-week low of $21.89 and a 52-week high of $36.15.

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

MetroCity Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Wednesday, January 29th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.88%. MetroCity Bankshares’s payout ratio is 39.66%.

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.