MetroCity Bankshares (NASDAQ:MCBS) Price Target Raised to $32.00 at Keefe, Bruyette & Woods

MetroCity Bankshares (NASDAQ:MCBS) had its target price raised by Keefe, Bruyette & Woods from $31.00 to $32.00 in a report published on Monday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other research analysts have also recently commented on the stock. Weiss Ratings raised shares of MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Wall Street Zen raised shares of MetroCity Bankshares from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.00.

MetroCity Bankshares Price Performance

MCBS stock opened at $28.29 on Monday. 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 has a 1 year low of $24.24 and a 1 year high of $31.06. The firm has a market cap of $813.34 million, a P/E ratio of 10.76 and a beta of 0.72. The stock has a 50-day simple moving average of $28.40 and a 200-day simple moving average of $27.57.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings results on Friday, January 30th. The company reported $0.68 EPS 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 analyst estimates 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, February 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, February 4th. MetroCity Bankshares’s dividend payout ratio is presently 38.02%.

Institutional Trading of MetroCity Bankshares

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 acquiring an additional 468 shares in the last quarter. Jane Street Group LLC bought a new position in shares of MetroCity Bankshares during the first quarter worth about $717,000. Geode Capital Management LLC lifted its position in shares of MetroCity Bankshares by 3.4% during the second quarter. Geode Capital Management LLC now owns 443,930 shares of the company’s stock worth $12,690,000 after purchasing an additional 14,766 shares during the last quarter. Creative Planning acquired a new position in MetroCity Bankshares in the second quarter worth about $815,000. Finally, Legal & General Group Plc increased its holdings in MetroCity Bankshares by 8.0% in the second quarter. Legal & General Group Plc now owns 19,744 shares of the company’s stock valued at $564,000 after buying an additional 1,460 shares during the last quarter. Institutional investors and hedge funds 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.