MetroCity Bankshares (NASDAQ:MCBS) Price Target Increased to $28.00 by Analysts at Keefe, Bruyette & Woods

MetroCity Bankshares (NASDAQ:MCBS) had its price objective upped by Keefe, Bruyette & Woods from $27.00 to $28.00 in a report published on Tuesday, Benzinga reports. They currently have a market perform rating on the stock.

MetroCity Bankshares Stock Performance

MCBS opened at $24.07 on Tuesday. The business has a fifty day simple moving average of $23.82 and a 200 day simple moving average of $22.88. The company has a market capitalization of $606.71 million, a PE ratio of 12.22 and a beta of 0.57. MetroCity Bankshares has a 1 year low of $13.10 and a 1 year high of $26.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.20.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $55.38 million during the quarter. MetroCity Bankshares had a net margin of 23.26% and a return on equity of 13.30%.

MetroCity Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, May 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.80 annualized dividend and a yield of 3.32%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 40.61%.

Institutional Trading of MetroCity Bankshares

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of MetroCity Bankshares during the 3rd quarter valued at $170,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of MetroCity Bankshares by 17.4% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,064 shares of the company’s stock valued at $257,000 after acquiring an additional 1,936 shares during the period. Sherrill & Hutchins Financial Advisory Inc bought a new stake in shares of MetroCity Bankshares during the 4th quarter valued at $712,000. Finally, Cahaba Wealth Management Inc. bought a new stake in shares of MetroCity Bankshares during the 1st quarter valued at $998,000. 25.33% of the stock is currently owned by institutional investors.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.