8,210 Shares in MetroCity Bankshares, Inc. (NASDAQ:MCBS) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,210 shares of the company’s stock, valued at approximately $251,000.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of MetroCity Bankshares by 1.5% during the first quarter. Vanguard Group Inc. now owns 981,024 shares of the company’s stock worth $24,486,000 after purchasing an additional 14,868 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MetroCity Bankshares by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock valued at $9,612,000 after buying an additional 15,796 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of MetroCity Bankshares by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock valued at $3,252,000 after buying an additional 2,049 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of MetroCity Bankshares during the second quarter valued at $377,000. Finally, Creative Planning purchased a new stake in shares of MetroCity Bankshares during the third quarter valued at $331,000. 25.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ajit A. Patel sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $33.10, for a total value of $165,500.00. Following the sale, the director now directly owns 645,739 shares in the company, valued at approximately $21,373,960.90. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Farid Tan sold 21,000 shares of MetroCity Bankshares stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $33.81, for a total transaction of $710,010.00. Following the sale, the president now owns 923,888 shares in the company, valued at $31,236,653.28. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,617 shares of company stock valued at $968,552. Company insiders own 27.49% of the company’s stock.

MetroCity Bankshares Stock Up 2.7 %

MCBS opened at $35.25 on Friday. MetroCity Bankshares, Inc. has a twelve month low of $19.85 and a twelve month high of $35.79. 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 50-day moving average price of $31.27 and a 200 day moving average price of $28.58. The company has a market cap of $892.95 million, a PE ratio of 15.19 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings data on Friday, October 18th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The company 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were paid a $0.23 dividend. This is a boost 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 annualized dividend and a dividend yield of 2.61%. MetroCity Bankshares’s dividend payout ratio is 39.66%.

Analyst Upgrades and Downgrades

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

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.