MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Down – What’s Next?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) gapped down prior to trading on Monday . The stock had previously closed at $28.62, but opened at $27.31. MetroCity Bankshares shares last traded at $27.3950, with a volume of 956 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCBS. Weiss Ratings reissued a “hold (c+)” rating on shares of MetroCity Bankshares in a report on Friday, January 9th. Keefe, Bruyette & Woods cut their price objective on shares of MetroCity Bankshares from $33.00 to $31.00 and set a “market perform” rating for the company in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.00.

MetroCity Bankshares Trading Up 0.5%

The firm has a market cap of $698.79 million, a P/E ratio of 10.61 and a beta of 0.72. The company has a current ratio of 1.27, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average price is $27.06 and its two-hundred day moving average price is $27.69.

MetroCity Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, February 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 38.76%.

Institutional Investors Weigh In On MetroCity Bankshares

Large investors have recently bought and sold shares of the business. American Century Companies Inc. raised its position in MetroCity Bankshares by 13.6% in the 2nd quarter. American Century Companies Inc. now owns 430,922 shares of the company’s stock valued at $12,316,000 after purchasing an additional 51,523 shares during the last quarter. Creative Planning bought a new stake in shares of MetroCity Bankshares during the second quarter worth $815,000. Los Angeles Capital Management LLC increased its stake in shares of MetroCity Bankshares by 511.7% in the second quarter. Los Angeles Capital Management LLC now owns 49,741 shares of the company’s stock valued at $1,422,000 after buying an additional 41,610 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of MetroCity Bankshares by 9.7% in the second quarter. Inspire Investing LLC now owns 13,657 shares of the company’s stock valued at $390,000 after buying an additional 1,202 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in MetroCity Bankshares by 23.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 47,232 shares of the company’s stock worth $1,350,000 after buying an additional 8,857 shares in the last quarter. 25.33% of the stock is currently owned by institutional investors.

MetroCity Bankshares Company Profile

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.