MetroCity Bankshares (NASDAQ:MCBS) Hits New 1-Year High – Time to Buy?

MetroCity Bankshares, Inc. (NASDAQ:MCBS)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $35.00 and last traded at $34.54, with a volume of 103045 shares traded. The stock had previously closed at $34.27.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings upgraded MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded MetroCity Bankshares from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on MetroCity Bankshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

MetroCity Bankshares Trading Up 0.8%

The stock has a market cap of $989.92 million, a PE ratio of 12.47 and a beta of 0.71. The business has a 50-day moving average of $31.92 and a 200 day moving average of $29.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.21.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $50.84 million during the quarter, compared to analysts’ expectations of $50.80 million. MetroCity Bankshares had a return on equity of 15.09% and a net margin of 28.16%.

MetroCity Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Wednesday, April 29th were issued a $0.29 dividend. This is a positive change from MetroCity Bankshares’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, April 29th. This represents a $1.16 annualized dividend and a yield of 3.4%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 41.88%.

Institutional Trading of MetroCity Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in MetroCity Bankshares by 49.5% in the 4th quarter. CWM LLC now owns 1,428 shares of the company’s stock valued at $38,000 after buying an additional 473 shares during the period. Russell Investments Group Ltd. purchased a new stake in MetroCity Bankshares in the 3rd quarter valued at about $45,000. State of Alaska Department of Revenue grew its holdings in MetroCity Bankshares by 77.9% in the 4th quarter. State of Alaska Department of Revenue now owns 1,822 shares of the company’s stock valued at $48,000 after buying an additional 798 shares during the period. BNP Paribas Financial Markets grew its holdings in MetroCity Bankshares by 21.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock valued at $87,000 after buying an additional 540 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in MetroCity Bankshares by 69.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,608 shares of the company’s stock valued at $103,000 after buying an additional 1,476 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.