UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $787,000 Stock Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,692 shares of the company’s stock after selling 4,413 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of MetroCity Bankshares worth $787,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MCBS. Bank of New York Mellon Corp raised its stake in shares of MetroCity Bankshares by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock worth $3,252,000 after purchasing an additional 2,049 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in MetroCity Bankshares by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock worth $4,524,000 after acquiring an additional 2,745 shares in the last quarter. SG Americas Securities LLC acquired a new stake in MetroCity Bankshares in the third quarter valued at $212,000. GSA Capital Partners LLP bought a new position in shares of MetroCity Bankshares in the 3rd quarter valued at about $251,000. Finally, Creative Planning acquired a new position in shares of MetroCity Bankshares during the 3rd quarter worth about $331,000. 25.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MetroCity Bankshares

In other news, President Farid Tan sold 5,983 shares of MetroCity Bankshares stock in a transaction on Monday, November 25th. The stock was sold at an average price of $35.64, for a total transaction of $213,234.12. Following the completion of the sale, the president now owns 914,888 shares of the company’s stock, valued at approximately $32,606,608.32. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ajit A. Patel sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the sale, the director now directly owns 645,739 shares of the company’s stock, valued at approximately $21,373,960.90. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,600 shares of company stock valued at $1,181,786 in the last three months. 27.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

MetroCity Bankshares Stock Performance

Shares of NASDAQ MCBS opened at $32.05 on Friday. 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 company has a market capitalization of $811.89 million, a P/E ratio of 13.81 and a beta of 0.64. MetroCity Bankshares, Inc. has a 12 month low of $21.89 and a 12 month high of $36.15. The stock has a 50 day moving average of $32.91 and a 200-day moving average of $29.77.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings data on Friday, October 18th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The firm 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 business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 30th were paid a $0.23 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.87%. This is a positive change from MetroCity Bankshares’s previous quarterly dividend of $0.20. MetroCity Bankshares’s dividend payout ratio is 39.66%.

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.