MetroCity Bankshares (NASDAQ:MCBS) Sees Unusually-High Trading Volume – Time to Buy?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) saw an uptick in trading volume on Friday . 24,432 shares changed hands during trading, a decline of 29% from the previous session’s volume of 34,454 shares.The stock last traded at $28.48 and had previously closed at $28.67.

Wall Street Analyst Weigh In

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

MetroCity Bankshares Stock Down 1.7 %

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $711.45 million, a PE ratio of 11.19 and a beta of 0.58. The firm has a 50 day moving average of $31.08 and a two-hundred day moving average of $31.41.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share for the quarter, topping 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 prior year, the company earned $0.65 EPS.

MetroCity Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.28%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 36.65%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of MetroCity Bankshares during the fourth quarter worth about $83,000. KLP Kapitalforvaltning AS acquired a new stake in MetroCity Bankshares during the fourth quarter valued at approximately $99,000. Janus Henderson Group PLC acquired a new position in shares of MetroCity Bankshares in the 4th quarter worth approximately $205,000. Price T Rowe Associates Inc. MD bought a new stake in shares of MetroCity Bankshares in the 4th quarter valued at approximately $224,000. Finally, PDT Partners LLC acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter valued at approximately $228,000. 25.33% of the stock is currently 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.