MetroCity Bankshares (NASDAQ:MCBS) Trading Down 0.2% – Time to Sell?

MetroCity Bankshares, Inc. (NASDAQ:MCBSGet Free Report) shares traded down 0.2% on Friday . The company traded as low as $32.40 and last traded at $32.66. 59,812 shares were traded during trading, a decline of 12% from the average session volume of 67,684 shares. The stock had previously closed at $32.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Keefe, Bruyette & Woods lifted their price target on MetroCity Bankshares from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Finally, Wall Street Zen raised MetroCity Bankshares from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Get Our Latest Stock Analysis on MCBS

MetroCity Bankshares Stock Down 0.2%

The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.77. The firm has a market cap of $936.04 million, a price-to-earnings ratio of 11.79 and a beta of 0.72. The stock’s 50 day moving average is $31.10 and its 200 day moving average is $28.85.

MetroCity Bankshares (NASDAQ:MCBSGet Free Report) last posted its quarterly earnings data on Friday, April 24th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. MetroCity Bankshares had a net margin of 28.16% and a return on equity of 15.09%. The business had revenue of $50.84 million for the quarter, compared to analyst estimates of $50.80 million.

MetroCity Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Wednesday, April 29th were paid a dividend of $0.29 per share. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, April 29th. MetroCity Bankshares’s dividend payout ratio (DPR) is 41.88%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of MetroCity Bankshares during the third quarter valued at approximately $45,000. Quantinno Capital Management LP increased its stake in shares of MetroCity Bankshares by 81.2% during the first quarter. Quantinno Capital Management LP now owns 23,201 shares of the company’s stock valued at $665,000 after acquiring an additional 10,399 shares during the period. Renaissance Technologies LLC acquired a new position in shares of MetroCity Bankshares during the first quarter valued at approximately $1,134,000. Dimensional Fund Advisors LP increased its stake in shares of MetroCity Bankshares by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 498,788 shares of the company’s stock valued at $14,300,000 after acquiring an additional 21,709 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of MetroCity Bankshares by 6.1% during the first quarter. The Manufacturers Life Insurance Company now owns 220,552 shares of the company’s stock valued at $6,323,000 after acquiring an additional 12,732 shares during the period. Institutional investors and hedge funds own 25.33% of the company’s stock.

MetroCity Bankshares Company Profile

(Get Free Report)

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.

Further Reading

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