Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS – Free Report) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,237 shares of the company’s stock after buying an additional 3,493 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in MetroCity Bankshares were worth $1,094,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in MetroCity Bankshares in the third quarter worth $212,000. PDT Partners LLC bought a new position in shares of MetroCity Bankshares in the third quarter worth about $228,000. GSA Capital Partners LLP purchased a new position in MetroCity Bankshares in the 3rd quarter worth about $251,000. Creative Planning bought a new stake in MetroCity Bankshares during the 3rd quarter valued at about $331,000. Finally, Franklin Resources Inc. boosted its position in 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 buying an additional 1,557 shares during the period. 25.33% of the stock is owned by institutional investors.
Insider Activity at MetroCity Bankshares
In related news, Director Ajit A. Patel sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $33.10, for a total transaction of $165,500.00. Following the sale, the director now owns 645,739 shares of the company’s stock, valued at $21,373,960.90. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Farid Tan sold 21,000 shares of MetroCity Bankshares stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $33.81, for a total value of $710,010.00. Following the completion of the transaction, the president now owns 923,888 shares in the company, valued at $31,236,653.28. This trade represents a 2.22 % 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 over the last ninety days. 27.49% of the stock is owned by company insiders.
MetroCity Bankshares Price Performance
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.91%. MetroCity Bankshares’s dividend payout ratio is presently 36.65%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods lifted their price target 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.
Check Out Our Latest Research Report on MCBS
MetroCity Bankshares Company 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.
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