MetroCity Bankshares (NASDAQ:MCBS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MetroCity Bankshares (NASDAQ:MCBS) from a hold rating to a buy rating in a research note published on Sunday.

Other research analysts have also recently issued reports about the company. Weiss Ratings upgraded MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Keefe, Bruyette & Woods raised their target price on MetroCity Bankshares from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, MetroCity Bankshares has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

MetroCity Bankshares Price Performance

Shares of MCBS stock opened at $28.67 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50-day moving average is $28.54 and its two-hundred day moving average is $27.54. MetroCity Bankshares has a 12 month low of $24.24 and a 12 month high of $31.06. The company has a market capitalization of $824.26 million, a PE ratio of 10.90 and a beta of 0.72.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Friday, January 30th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The firm had revenue of $43.74 million during the quarter, compared to analyst estimates of $44.50 million. MetroCity Bankshares had a net margin of 27.93% and a return on equity of 14.82%.

MetroCity Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, February 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 38.02%.

Institutional Trading of MetroCity Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCBS. CWM LLC lifted its stake in MetroCity Bankshares by 78.8% during the third quarter. CWM LLC now owns 955 shares of the company’s stock worth $26,000 after purchasing an additional 421 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at $28,000. Russell Investments Group Ltd. purchased a new stake in shares of MetroCity Bankshares in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets raised its holdings in shares of MetroCity Bankshares by 21.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock valued at $87,000 after buying an additional 540 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in MetroCity Bankshares during the 4th quarter worth about $99,000. Hedge funds and other institutional investors own 25.33% of the company’s stock.

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.