MetroCity Bankshares (NASDAQ:MCBS) Rating Increased to Buy 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 released on Sunday.

A number of other equities research analysts have also recently weighed in on MCBS. Keefe, Bruyette & Woods boosted their price target on shares of MetroCity Bankshares from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, March 23rd. Weiss Ratings raised 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

MetroCity Bankshares Stock Performance

Shares of MetroCity Bankshares stock opened at $28.21 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.94. MetroCity Bankshares has a 52 week low of $24.24 and a 52 week high of $31.06. The firm’s 50 day moving average is $28.49 and its two-hundred day moving average is $27.55. The firm has a market capitalization of $811.04 million, a P/E ratio of 10.73 and a beta of 0.72.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data 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 company had revenue of $43.74 million for the quarter, compared to analysts’ expectations of $44.50 million. MetroCity Bankshares had a return on equity of 14.82% and a net margin of 27.93%.

MetroCity Bankshares Announces Dividend

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

Institutional Investors Weigh In On MetroCity Bankshares

Several large investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MetroCity Bankshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock worth $302,000 after buying an additional 468 shares during the last quarter. Osaic Holdings Inc. raised its position in MetroCity Bankshares by 0.9% during the 2nd quarter. Osaic Holdings Inc. now owns 58,081 shares of the company’s stock worth $1,660,000 after buying an additional 534 shares during the last quarter. BNP Paribas Financial Markets lifted its stake 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 acquiring an additional 540 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of MetroCity Bankshares by 15.3% in the 4th quarter. SG Americas Securities LLC now owns 5,429 shares of the company’s stock worth $144,000 after acquiring an additional 721 shares during the period. 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.