MetroCity Bankshares (NASDAQ:MCBS) Rating Lowered to “Sell” at Wall Street Zen

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

Separately, Weiss Ratings raised shares of MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, MetroCity Bankshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

MetroCity Bankshares Stock Down 0.1%

Shares of NASDAQ:MCBS opened at $28.34 on Friday. The company’s fifty day moving average is $28.06 and its 200-day moving average is $27.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.27. MetroCity Bankshares has a 52 week low of $24.24 and a 52 week high of $31.06. The company has a market capitalization of $722.13 million, a PE ratio of 10.78 and a beta of 0.72.

MetroCity Bankshares (NASDAQ:MCBS) last announced its earnings results on Friday, January 30th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). MetroCity Bankshares had a return on equity of 15.73% and a net margin of 27.93%.The firm had revenue of $43.74 million for the quarter, compared to analyst estimates of $44.50 million.

Institutional Investors Weigh In On MetroCity Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of MetroCity Bankshares by 13.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,640 shares of the company’s stock worth $309,000 after buying an additional 1,373 shares during the period. Mariner LLC increased its holdings in MetroCity Bankshares by 11.4% in the fourth quarter. Mariner LLC now owns 14,755 shares of the company’s stock valued at $392,000 after purchasing an additional 1,511 shares during the last quarter. Barclays PLC increased its holdings in MetroCity Bankshares by 19.0% in the fourth quarter. Barclays PLC now owns 38,710 shares of the company’s stock valued at $1,027,000 after purchasing an additional 6,194 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in MetroCity Bankshares by 716.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 6,464 shares of the company’s stock valued at $171,000 after buying an additional 5,672 shares during the period. Finally, State Street Corp boosted its holdings in MetroCity Bankshares by 1.3% during the fourth quarter. State Street Corp now owns 445,316 shares of the company’s stock worth $11,819,000 after buying an additional 5,543 shares during the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.

About MetroCity Bankshares

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.