Corebridge Financial Inc. Has $293,000 Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Corebridge Financial Inc. cut its stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 7.0% during the fourth quarter, HoldingsChannel reports. The fund owned 9,175 shares of the company’s stock after selling 692 shares during the quarter. Corebridge Financial Inc.’s holdings in MetroCity Bankshares were worth $293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCBS. State Street Corp grew its stake 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 in the last quarter. Barclays PLC grew its stake in shares of MetroCity Bankshares by 345.5% in the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock valued at $868,000 after buying an additional 21,979 shares in the last quarter. Franklin Resources Inc. increased its holdings in MetroCity Bankshares by 15.4% in the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock worth $358,000 after buying an additional 1,557 shares during the last quarter. Geode Capital Management LLC raised its position in MetroCity Bankshares by 1.5% during the third quarter. Geode Capital Management LLC now owns 424,739 shares of the company’s stock valued at $13,009,000 after acquiring an additional 6,341 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in MetroCity Bankshares by 1.9% in the third 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 last quarter. 25.33% of the stock is currently owned by hedge funds and other institutional investors.

MetroCity Bankshares Stock Performance

Shares of MCBS opened at $25.39 on Friday. The firm has a market cap of $644.98 million, a price-to-earnings ratio of 10.12 and a beta of 0.51. The company’s fifty day moving average is $28.71 and its 200-day moving average is $30.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a 12 month low of $21.89 and a 12 month high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Tuesday, January 21st. The company reported $0.63 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 quarter in the prior year, the business earned $0.65 EPS.

MetroCity Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Wednesday, January 29th were issued 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 3.62%. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 36.65%.

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.