American Century Companies Inc. Buys 79,080 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

American Century Companies Inc. raised its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 309,264 shares of the company’s stock after acquiring an additional 79,080 shares during the period. American Century Companies Inc. owned approximately 1.22% of MetroCity Bankshares worth $9,881,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. PDT Partners LLC bought a new position in MetroCity Bankshares during the third quarter valued at $228,000. SG Americas Securities LLC lifted its holdings in shares of MetroCity Bankshares by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 8,212 shares of the company’s stock valued at $262,000 after acquiring an additional 1,280 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of MetroCity Bankshares by 15.4% in the 3rd quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock valued at $358,000 after acquiring an additional 1,557 shares during the last quarter. Jane Street Group LLC grew its position in MetroCity Bankshares by 2.3% in the third quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock worth $501,000 after acquiring an additional 370 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in MetroCity Bankshares during the fourth quarter worth approximately $562,000. Hedge funds and other institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Stock Up 0.4 %

Shares of NASDAQ:MCBS opened at $27.72 on Thursday. The firm has a market capitalization of $704.17 million, a PE ratio of 11.04 and a beta of 0.58. The business has a 50 day simple moving average of $29.57 and a two-hundred day simple moving average of $31.15. MetroCity Bankshares, Inc. has a 1 year low of $21.89 and a 1 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 posted its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. During the same quarter in the previous year, the company posted $0.65 earnings per share.

MetroCity Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $0.92 annualized dividend and a yield of 3.32%. MetroCity Bankshares’s dividend payout ratio (DPR) is 36.65%.

Wall Street Analyst Weigh In

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

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.