MetroCity Bankshares (NASDAQ:MCBS) Sets New 1-Year High – What’s Next?

Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.30 and last traded at $39.30, with a volume of 102 shares. The stock had previously closed at $34.81.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price target on shares of MetroCity Bankshares from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd.

MetroCity Bankshares Price Performance

The stock has a market capitalization of $862.74 million, a PE ratio of 14.69 and a beta of 0.60. The firm’s 50 day simple moving average is $30.67 and its 200 day simple moving average is $28.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $60.45 million for the quarter. MetroCity Bankshares had a net margin of 25.54% and a return on equity of 14.97%.

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were issued a $0.23 dividend. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, October 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.70%. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 39.66%.

Insider Transactions at MetroCity Bankshares

In other news, 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 value of $165,500.00. Following the transaction, the director now owns 645,739 shares in the company, valued at approximately $21,373,960.90. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sam Sang-Koo Shim sold 46,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $27.90, for a total transaction of $1,288,980.00. Following the completion of the transaction, the director now owns 537,961 shares in the company, valued at $15,009,111.90. This represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,949 shares of company stock worth $3,017,228. Insiders own 27.49% of the company’s stock.

Institutional Trading of MetroCity Bankshares

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in MetroCity Bankshares in the third quarter valued at $212,000. PDT Partners LLC bought a new stake in MetroCity Bankshares in the third quarter valued at $228,000. GSA Capital Partners LLP bought a new stake in MetroCity Bankshares in the third quarter valued at $251,000. Creative Planning bought a new stake in MetroCity Bankshares in the third quarter valued at $331,000. Finally, Sanctuary Advisors LLC bought a new stake in MetroCity Bankshares in the second quarter valued at $377,000. Institutional investors own 25.33% of the company’s stock.

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.