MetroCity Bankshares, Inc. $MCBS Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 511.7% during the second quarter, Holdings Channel.com reports. The firm owned 49,741 shares of the company’s stock after buying an additional 41,610 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MetroCity Bankshares were worth $1,422,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MetroCity Bankshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock worth $302,000 after purchasing an additional 468 shares during the period. PDT Partners LLC increased its stake in MetroCity Bankshares by 22.8% during the 1st quarter. PDT Partners LLC now owns 12,331 shares of the company’s stock valued at $340,000 after buying an additional 2,290 shares during the period. Inspire Investing LLC raised its position in shares of MetroCity Bankshares by 9.7% during the 2nd quarter. Inspire Investing LLC now owns 13,657 shares of the company’s stock worth $390,000 after buying an additional 1,202 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of MetroCity Bankshares by 26.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,223 shares of the company’s stock worth $613,000 after acquiring an additional 4,624 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of MetroCity Bankshares in the first quarter valued at approximately $717,000. 25.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MCBS shares. Keefe, Bruyette & Woods dropped their target price on MetroCity Bankshares from $33.00 to $31.00 and set a “market perform” rating on the stock in a report on Tuesday, October 21st. Weiss Ratings cut MetroCity Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.00.

MetroCity Bankshares Price Performance

MCBS stock opened at $26.13 on Thursday. MetroCity Bankshares, Inc. has a one year low of $24.24 and a one year high of $36.15. The firm has a 50-day moving average of $27.38 and a two-hundred day moving average of $28.17. The firm has a market capitalization of $665.79 million, a PE ratio of 10.13 and a beta of 0.65. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 0.95.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Friday, October 17th. The company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $37.97 million for the quarter, compared to the consensus estimate of $37.70 million. MetroCity Bankshares had a net margin of 28.25% and a return on equity of 15.39%.

MetroCity Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Wednesday, October 29th were issued a $0.25 dividend. The ex-dividend date was Wednesday, October 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. MetroCity Bankshares’s dividend payout ratio is presently 38.76%.

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.