MetroCity Bankshares (NASDAQ:MCBS) Price Target Increased to $28.00 by Analysts at Keefe, Bruyette & Woods

MetroCity Bankshares (NASDAQ:MCBS) had its price objective increased by Keefe, Bruyette & Woods from $27.00 to $28.00 in a report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

MetroCity Bankshares Price Performance

Shares of MetroCity Bankshares stock opened at $24.42 on Tuesday. MetroCity Bankshares has a twelve month low of $13.10 and a twelve month high of $26.23. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The company has a 50-day simple moving average of $23.83 and a two-hundred day simple moving average of $22.84. The stock has a market capitalization of $615.63 million, a price-to-earnings ratio of 12.40 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 23.26% and a return on equity of 13.30%. The firm had revenue of $55.38 million during the quarter.

MetroCity Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, May 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, April 30th. MetroCity Bankshares’s dividend payout ratio is currently 40.61%.

Hedge Funds Weigh In On MetroCity Bankshares

Several hedge funds have recently bought and sold shares of MCBS. SG Americas Securities LLC bought a new stake in shares of MetroCity Bankshares during the 3rd quarter valued at approximately $170,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of MetroCity Bankshares by 17.4% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,064 shares of the company’s stock valued at $257,000 after purchasing an additional 1,936 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc bought a new stake in shares of MetroCity Bankshares during the 4th quarter valued at approximately $712,000. Finally, Cahaba Wealth Management Inc. bought a new stake in shares of MetroCity Bankshares during the 1st quarter valued at approximately $998,000. 25.33% of the stock is owned by institutional investors.

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.