MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Up to $19.53

Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) gapped up before the market opened on Friday . The stock had previously closed at $19.53, but opened at $20.12. MetroCity Bankshares shares last traded at $20.12, with a volume of 15,936 shares changing hands.

MetroCity Bankshares Stock Performance

The firm has a fifty day moving average price of $20.09 and a 200 day moving average price of $18.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $508.63 million, a PE ratio of 8.71 and a beta of 0.59.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Friday, July 21st. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $52.24 million during the quarter. MetroCity Bankshares had a return on equity of 16.54% and a net margin of 30.46%.

MetroCity Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.72 annualized dividend and a yield of 3.58%. MetroCity Bankshares’s payout ratio is presently 31.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCBS. Bank of New York Mellon Corp raised its stake in shares of MetroCity Bankshares by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 161,255 shares of the company’s stock worth $3,786,000 after purchasing an additional 3,702 shares during the last quarter. MetLife Investment Management LLC raised its position in MetroCity Bankshares by 58.5% during the first quarter. MetLife Investment Management LLC now owns 11,843 shares of the company’s stock valued at $278,000 after acquiring an additional 4,371 shares in the last quarter. Dimensional Fund Advisors LP raised its position in MetroCity Bankshares by 29.4% during the first quarter. Dimensional Fund Advisors LP now owns 89,524 shares of the company’s stock valued at $2,102,000 after acquiring an additional 20,336 shares in the last quarter. First Trust Advisors LP raised its position in MetroCity Bankshares by 9.8% during the first quarter. First Trust Advisors LP now owns 12,971 shares of the company’s stock valued at $305,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in MetroCity Bankshares by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 137,874 shares of the company’s stock valued at $3,238,000 after buying an additional 1,541 shares in the last quarter. 18.93% of the stock is currently owned by hedge funds and other institutional investors.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that provides banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings accounts, and certificates of deposit. The company also provides commercial and consumer loans, including single family residential loans; construction and development, and owner and non-owner occupied commercial real estate loans; and commercial and industrial loans, residential mortgage loans, and SBA loans.