MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Down – Time to Sell?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) shares gapped down prior to trading on Monday . The stock had previously closed at $27.78, but opened at $27.17. MetroCity Bankshares shares last traded at $27.75, with a volume of 3,279 shares.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their target price on shares of MetroCity Bankshares from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

MetroCity Bankshares Price Performance

The company’s 50-day moving average is $30.40 and its 200-day moving average is $31.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $688.93 million, a price-to-earnings ratio of 10.80 and a beta of 0.58.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same quarter in the previous year, the business earned $0.65 EPS.

MetroCity Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, January 29th. This represents a $0.92 dividend on an annualized basis and a yield of 3.39%. MetroCity Bankshares’s dividend payout ratio (DPR) is 36.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in MetroCity Bankshares during the fourth quarter valued at approximately $83,000. KLP Kapitalforvaltning AS acquired a new position in MetroCity Bankshares during the fourth quarter valued at approximately $99,000. Janus Henderson Group PLC acquired a new position in MetroCity Bankshares during the fourth quarter valued at approximately $205,000. Price T Rowe Associates Inc. MD acquired a new position in MetroCity Bankshares during the fourth quarter valued at approximately $224,000. Finally, PDT Partners LLC acquired a new position in shares of MetroCity Bankshares during the third quarter worth $228,000. 25.33% of the stock is owned by institutional investors and hedge funds.

About MetroCity Bankshares

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.