MetroCity Bankshares (NASDAQ:MCBS – Free Report) had its price target boosted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research note released on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.
A number of other equities research analysts have also issued reports on the company. Weiss Ratings raised MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Wall Street Zen raised MetroCity Bankshares from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.
View Our Latest Research Report on MCBS
MetroCity Bankshares Price Performance
MCBS stock opened at $31.14 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $895.28 million, a P/E ratio of 11.84 and a beta of 0.68. The business’s 50-day moving average is $28.94 and its two-hundred day moving average is $27.61. MetroCity Bankshares has a 1 year low of $24.53 and a 1 year high of $31.46.
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The company had revenue of $43.74 million during the quarter, compared to analyst estimates of $44.50 million. MetroCity Bankshares had a net margin of 27.93% and a return on equity of 14.82%.
MetroCity Bankshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 4th. MetroCity Bankshares’s dividend payout ratio (DPR) is 38.02%.
Institutional Investors Weigh In On MetroCity Bankshares
Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its position in shares of MetroCity Bankshares by 78.8% during the 3rd quarter. CWM LLC now owns 955 shares of the company’s stock worth $26,000 after acquiring an additional 421 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MetroCity Bankshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock worth $302,000 after acquiring an additional 468 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of MetroCity Bankshares by 0.9% during the 2nd quarter. Osaic Holdings Inc. now owns 58,081 shares of the company’s stock worth $1,660,000 after acquiring an additional 534 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of MetroCity Bankshares by 21.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock worth $87,000 after acquiring an additional 540 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of MetroCity Bankshares by 15.3% during the 4th quarter. SG Americas Securities LLC now owns 5,429 shares of the company’s stock worth $144,000 after acquiring an additional 721 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.
About MetroCity Bankshares
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.
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