MetroCity Bankshares (NASDAQ:MCBS) Lowered to “Hold” Rating by Wall Street Zen

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

A number of other equities analysts have also commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of MetroCity Bankshares from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MetroCity Bankshares in a report on Wednesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, MetroCity Bankshares currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

MetroCity Bankshares Stock Up 0.2%

Shares of MCBS traded up $0.06 during trading hours on Friday, hitting $35.60. 84,864 shares of the company were exchanged, compared to its average volume of 98,494. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.21. The company has a market cap of $1.02 billion, a PE ratio of 12.85 and a beta of 0.70. The firm’s 50 day moving average is $33.73 and its 200-day moving average is $30.50. MetroCity Bankshares has a 52 week low of $24.53 and a 52 week high of $37.46.

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

Institutional Trading of MetroCity Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCBS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MetroCity Bankshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock worth $302,000 after buying an additional 468 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of MetroCity Bankshares in the first quarter worth $717,000. Legal & General Group Plc increased its position in MetroCity Bankshares by 8.0% during the second quarter. Legal & General Group Plc now owns 19,744 shares of the company’s stock worth $564,000 after acquiring an additional 1,460 shares during the period. First Trust Advisors LP increased its position in MetroCity Bankshares by 7.8% during the second quarter. First Trust Advisors LP now owns 16,396 shares of the company’s stock worth $469,000 after acquiring an additional 1,189 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in MetroCity Bankshares by 14.7% during the second quarter. Qube Research & Technologies Ltd now owns 17,387 shares of the company’s stock worth $497,000 after acquiring an additional 2,226 shares during the period. Institutional investors and hedge funds own 25.33% of the company’s stock.

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.