BlackRock Snaps Up New Stake in MetroCity Bankshares

BlackRock Inc., one of the world's largest asset managers, has acquired a new stake in MetroCity Bankshares, Inc. (NASDAQ:MCBS). According to its most recent SEC filing, BlackRock bought 1,812,566 shares of MetroCity Bankshares stock, valued at approximately $65,053,000.

This investment represents about 6.32% of MetroCity Bankshares' outstanding shares. Other institutional investors have also increased their holdings in the bank recently, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., CWM LLC, BNP Paribas Financial Markets, and Swiss National Bank.

MetroCity Bankshares provides banking services to individuals and businesses in the Houston metropolitan area. The company's stock has a market capitalization of $1.01 billion and a P/E ratio of 12.20. The bank reported earnings per share (EPS) of $0.76 for its most recent quarter, missing analysts' estimates by ($0.05).