MetroCity Bankshares (NASDAQ:MCBS) Downgraded to “Sell” Rating by Wall Street Zen

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

Separately, Weiss Ratings upgraded MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. One 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 has a consensus rating of “Moderate Buy” and an average price target of $31.00.

MetroCity Bankshares Stock Performance

Shares of MCBS stock opened at $28.34 on Friday. The stock’s 50-day moving average is $28.06 and its two-hundred day moving average is $27.71. The firm has a market cap of $722.10 million, a price-to-earnings ratio of 10.78 and a beta of 0.72. MetroCity Bankshares has a 1 year low of $24.24 and a 1 year high of $31.06. 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 (NASDAQ:MCBS) last posted its 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). The firm had revenue of $43.74 million during the quarter, compared to analysts’ expectations of $44.50 million. MetroCity Bankshares had a net margin of 27.93% and a return on equity of 15.73%.

Hedge Funds Weigh In On MetroCity Bankshares

Several institutional investors have recently bought and sold shares of the company. CWM LLC raised its position in MetroCity Bankshares by 78.8% during the 3rd quarter. CWM LLC now owns 955 shares of the company’s stock worth $26,000 after buying an additional 421 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of MetroCity Bankshares in the third quarter valued at about $28,000. Russell Investments Group Ltd. acquired a new position in shares of MetroCity Bankshares during the third quarter worth about $45,000. BNP Paribas Financial Markets increased its stake in shares of MetroCity Bankshares by 21.5% during the second 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, Eurizon Capital SGR S.p.A. purchased a new position in MetroCity Bankshares during the fourth quarter worth about $99,000. 25.33% of the stock is owned by institutional investors and hedge funds.

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.