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

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

Separately, Weiss Ratings raised MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

MetroCity Bankshares Price Performance

MCBS stock opened at $28.29 on Friday. The firm has a market cap of $813.34 million, a P/E ratio of 10.76 and a beta of 0.72. The firm’s fifty day moving average is $28.40 and its 200 day moving average is $27.57. MetroCity Bankshares has a 52 week low of $24.24 and a 52 week high of $31.06. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.21 and a current ratio of 1.21.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly 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). MetroCity Bankshares had a return on equity of 14.82% and a net margin of 27.93%.The business had revenue of $43.74 million during the quarter, compared to the consensus estimate of $44.50 million.

MetroCity Bankshares Dividend Announcement

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

Institutional Investors Weigh In On MetroCity Bankshares

A number of large investors have recently modified their holdings of the stock. CWM LLC raised its stake in MetroCity Bankshares by 78.8% in the third quarter. CWM LLC now owns 955 shares of the company’s stock worth $26,000 after buying an additional 421 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in MetroCity Bankshares during the 3rd quarter valued at approximately $28,000. Russell Investments Group Ltd. bought a new stake in MetroCity Bankshares during the 3rd quarter valued at approximately $45,000. BNP Paribas Financial Markets grew its holdings in shares of MetroCity Bankshares by 21.5% during 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, Tower Research Capital LLC TRC grew its holdings in shares of MetroCity Bankshares by 69.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,608 shares of the company’s stock worth $103,000 after acquiring an additional 1,476 shares during the period. 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.