Wall Street Zen Downgrades MetroCity Bankshares (NASDAQ:MCBS) to Hold

MetroCity Bankshares (NASDAQ:MCBS) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other analysts have also recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of MetroCity Bankshares in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of MetroCity Bankshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

MetroCity Bankshares Stock Performance

MCBS stock traded up $0.06 during trading on Friday, reaching $35.60. 84,864 shares of the stock were exchanged, compared to its average volume of 98,494. MetroCity Bankshares has a twelve month low of $24.53 and a twelve month high of $37.46. The company has a market capitalization of $1.02 billion, a P/E ratio of 12.85 and a beta of 0.70. The stock has a 50 day simple moving average of $33.73 and a 200-day simple moving average of $30.50. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.77.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. MetroCity Bankshares had a return on equity of 15.09% and a net margin of 28.16%.The firm had revenue of $50.84 million during the quarter, compared to analysts’ expectations of $50.80 million.

Institutional Trading of MetroCity Bankshares

Several institutional investors have recently bought and sold shares of the stock. CWM LLC grew its position in MetroCity Bankshares by 49.5% in the fourth quarter. CWM LLC now owns 1,428 shares of the company’s stock valued at $38,000 after acquiring an additional 473 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of MetroCity Bankshares in the 3rd quarter valued at $45,000. State of Alaska Department of Revenue grew its holdings in shares of MetroCity Bankshares by 77.9% in the 4th quarter. State of Alaska Department of Revenue now owns 1,822 shares of the company’s stock worth $48,000 after purchasing an additional 798 shares during the last quarter. BNP Paribas Financial Markets grew 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 worth $87,000 after purchasing an additional 540 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth about $99,000. Institutional investors and hedge funds 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.