Charles Schwab Investment Management Inc. Buys 1,086 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Charles Schwab Investment Management Inc. increased its position in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,831 shares of the company’s stock after acquiring an additional 1,086 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.59% of MetroCity Bankshares worth $4,755,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MCBS. PDT Partners LLC purchased a new stake in MetroCity Bankshares in the 3rd quarter worth approximately $228,000. SG Americas Securities LLC raised its position in shares of MetroCity Bankshares by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 8,212 shares of the company’s stock worth $262,000 after buying an additional 1,280 shares in the last quarter. Franklin Resources Inc. boosted its stake in MetroCity Bankshares by 15.4% during the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock valued at $358,000 after buying an additional 1,557 shares during the period. Jane Street Group LLC grew its position in MetroCity Bankshares by 2.3% during the third quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock worth $501,000 after buying an additional 370 shares in the last quarter. Finally, Barclays PLC increased its stake in MetroCity Bankshares by 345.5% in the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock worth $868,000 after acquiring an additional 21,979 shares during the last quarter. Hedge funds and other institutional investors own 25.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MetroCity Bankshares Price Performance

MCBS stock opened at $27.48 on Wednesday. The firm has a 50 day simple moving average of $30.08 and a two-hundred day simple moving average of $31.26. The stock has a market cap of $698.07 million, a PE ratio of 10.95 and a beta of 0.58. MetroCity Bankshares, Inc. has a one year low of $21.89 and a one year high of $36.15. 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 (NASDAQ:MCBS) last announced its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same period last year, the firm earned $0.65 earnings per share.

MetroCity Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Wednesday, January 29th. MetroCity Bankshares’s payout ratio is currently 36.65%.

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.