UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,413 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS)

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

A number of other hedge funds also recently modified their holdings of MCBS. Bank of New York Mellon Corp lifted its position in MetroCity Bankshares by 1.7% during the second 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 during the period. Charles Schwab Investment Management Inc. raised its position in shares of MetroCity Bankshares by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock valued at $4,524,000 after buying an additional 2,745 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of MetroCity Bankshares during the 3rd quarter worth approximately $212,000. GSA Capital Partners LLP acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter worth approximately $251,000. Finally, Creative Planning acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter worth approximately $331,000. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Price Performance

Shares of MCBS stock opened at $32.05 on Friday. MetroCity Bankshares, Inc. has a twelve month low of $21.89 and a twelve month high of $36.15. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $32.91 and a 200 day simple moving average of $29.77. The company has a market cap of $811.89 million, a P/E ratio of 13.81 and a beta of 0.64.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results 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 announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Wednesday, October 30th. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.20. MetroCity Bankshares’s payout ratio is presently 39.66%.

Insider Transactions at MetroCity Bankshares

In other news, President Farid Tan sold 21,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $33.81, for a total transaction of $710,010.00. Following the sale, the president now directly owns 923,888 shares in the company, valued at approximately $31,236,653.28. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ajit A. Patel sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 645,739 shares of the company’s stock, valued at approximately $21,373,960.90. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,600 shares of company stock worth $1,181,786. Corporate insiders own 27.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.