SG Americas Securities LLC Takes Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

SG Americas Securities LLC acquired a new stake in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,932 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds have also recently modified their holdings of MCBS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of MetroCity Bankshares by 3.5% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,066 shares of the company’s stock valued at $351,000 after acquiring an additional 472 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of MetroCity Bankshares during the first quarter valued at about $361,000. Sanctuary Advisors LLC acquired a new position in shares of MetroCity Bankshares during the second quarter valued at about $377,000. Empowered Funds LLC increased its holdings in shares of MetroCity Bankshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock valued at $1,113,000 after acquiring an additional 3,325 shares in the last quarter. Finally, Bank of New York Mellon Corp increased 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 acquiring an additional 2,049 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.

Insider Transactions at MetroCity Bankshares

In other news, Director Don Leung sold 1,256 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $31.47, for a total transaction of $39,526.32. Following the sale, the director now owns 815,736 shares of the company’s stock, valued at $25,671,211.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Don Leung sold 1,256 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $31.47, for a total transaction of $39,526.32. Following the transaction, the director now owns 815,736 shares in the company, valued at $25,671,211.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sam Sang-Koo Shim sold 46,200 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $27.90, for a total value of $1,288,980.00. Following the transaction, the director now owns 537,961 shares in the company, valued at $15,009,111.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,754 shares of company stock valued at $2,526,451 in the last 90 days. 27.49% of the stock is currently owned by company insiders.

MetroCity Bankshares Trading Up 1.6 %

NASDAQ MCBS opened at $30.62 on Wednesday. The company has a fifty day moving average of $29.84 and a 200 day moving average of $27.21. The company has a market capitalization of $771.81 million, a PE ratio of 15.54 and a beta of 0.60. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. MetroCity Bankshares, Inc. has a 1 year low of $19.20 and a 1 year high of $32.87.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $60.45 million during the quarter. MetroCity Bankshares had a return on equity of 13.85% and a net margin of 24.20%.

MetroCity Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th will be paid a dividend of $0.23 per share. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.00%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 46.70%.

Analyst Ratings Changes

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

MetroCity Bankshares Company 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.