MetroCity Bankshares, Inc. (NASDAQ:MCBS) Shares Bought by Jane Street Group LLC

Jane Street Group LLC increased its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,357 shares of the company’s stock after buying an additional 370 shares during the quarter. Jane Street Group LLC owned about 0.06% of MetroCity Bankshares worth $501,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. State Street Corp boosted its holdings in MetroCity Bankshares by 2.9% in the third quarter. State Street Corp now owns 429,312 shares of the company’s stock valued at $13,146,000 after purchasing an additional 11,900 shares during the last quarter. PDT Partners LLC acquired a new stake in MetroCity Bankshares in the 3rd quarter valued at approximately $228,000. Charles Schwab Investment Management Inc. increased its position in MetroCity Bankshares by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock valued at $4,524,000 after acquiring an additional 2,745 shares during the period. GSA Capital Partners LLP acquired a new position in shares of MetroCity Bankshares during the 3rd quarter valued at $251,000. Finally, Creative Planning acquired a new position in shares of MetroCity Bankshares during the 3rd quarter valued at $331,000. Institutional investors and hedge funds own 25.33% of the company’s stock.

MetroCity Bankshares Price Performance

MCBS opened at $31.87 on Monday. The stock has a market cap of $807.33 million, a price-to-earnings ratio of 13.74 and a beta of 0.64. MetroCity Bankshares, Inc. has a 1 year low of $21.89 and a 1 year high of $36.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $33.21 and a 200 day moving average price of $30.46.

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

MetroCity Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were paid a $0.23 dividend. The ex-dividend date was Wednesday, October 30th. This is a positive change from MetroCity Bankshares’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.89%. MetroCity Bankshares’s payout ratio is presently 39.66%.

Analysts Set New Price Targets

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

Insider Activity at MetroCity Bankshares

In other MetroCity Bankshares news, President Farid Tan sold 21,000 shares of MetroCity Bankshares stock in a transaction that occurred 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 directly owns 923,888 shares of the company’s stock, valued at approximately $31,236,653.28. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ajit A. Patel sold 5,000 shares of MetroCity Bankshares stock in a transaction that occurred 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 $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. Insiders have sold 34,600 shares of company stock worth $1,181,786 over the last three months. Company insiders own 27.49% of the company’s stock.

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.