De Lisle Partners LLP Purchases Shares of 83,935 MetroCity Bankshares, Inc. $MCBS

De Lisle Partners LLP acquired a new stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS) during the 2nd quarter, Holdings Channel reports. The firm acquired 83,935 shares of the company’s stock, valued at approximately $3,015,000.

A number of other hedge funds have also recently made changes to their positions in MCBS. BlackRock Inc. purchased a new stake in shares of MetroCity Bankshares during the second quarter worth about $65,053,000. Deutsche Bank AG purchased a new position in MetroCity Bankshares in the 2nd quarter worth approximately $830,000. Bank of New York Mellon Corp purchased a new position in MetroCity Bankshares in the 2nd quarter worth approximately $4,563,000. GSA Capital Partners LLP bought a new position in MetroCity Bankshares in the 2nd quarter worth approximately $261,000. Finally, The Manufacturers Life Insurance Company boosted its stake in MetroCity Bankshares by 6.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 220,552 shares of the company’s stock worth $6,323,000 after purchasing an additional 12,732 shares during the period. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Trading Up 0.3%

Shares of MetroCity Bankshares stock opened at $35.60 on Friday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 12.36 and a beta of 0.69. The business has a 50-day moving average price of $35.61 and a 200-day moving average price of $32.32. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.66. MetroCity Bankshares, Inc. has a twelve month low of $24.53 and a twelve month high of $37.46.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Friday, July 24th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.05). The firm had revenue of $49.80 million during the quarter, compared to analysts’ expectations of $52.40 million. MetroCity Bankshares had a return on equity of 15.16% and a net margin of 28.40%.

MetroCity Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Wednesday, July 29th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $1.16 dividend on an annualized basis and a yield of 3.3%. MetroCity Bankshares’s payout ratio is presently 40.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCBS. Weiss Ratings reiterated a “buy (b)” rating on shares of MetroCity Bankshares in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of MetroCity Bankshares from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.00.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.

MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.