Keefe, Bruyette & Woods Issues Pessimistic Forecast for MetroCity Bankshares (NASDAQ:MCBS) Stock Price

MetroCity Bankshares (NASDAQ:MCBS - Free Report) had its price objective lowered by Keefe, Bruyette & Woods from $36.00 to $34.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

MetroCity Bankshares Price Performance

NASDAQ:MCBS traded down $0.41 during trading hours on Tuesday, reaching $27.60. The company had a trading volume of 26,583 shares, compared to its average volume of 40,130. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $27.74 and a two-hundred day moving average of $30.69. MetroCity Bankshares has a one year low of $22.25 and a one year high of $36.15. The firm has a market capitalization of $701.12 million, a PE ratio of 11.00 and a beta of 0.51.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last announced its earnings results on Friday, April 18th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $36.01 million during the quarter, compared to analysts' expectations of $35.20 million. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%.

MetroCity Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.92 annualized dividend and a yield of 3.33%. MetroCity Bankshares's payout ratio is 35.80%.

Institutional Trading of MetroCity Bankshares

Several large investors have recently made changes to their positions in MCBS. Axecap Investments LLC acquired a new position in MetroCity Bankshares during the 1st quarter worth about $863,000. GAMMA Investing LLC grew its stake in shares of MetroCity Bankshares by 3,756.7% during the first quarter. GAMMA Investing LLC now owns 6,865 shares of the company's stock valued at $189,000 after purchasing an additional 6,687 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MetroCity Bankshares by 10.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,434 shares of the company's stock valued at $908,000 after purchasing an additional 2,742 shares in the last quarter. Two Sigma Advisers LP raised its position in MetroCity Bankshares by 7.7% in the 4th quarter. Two Sigma Advisers LP now owns 14,000 shares of the company's stock worth $447,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in MetroCity Bankshares by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 68,503 shares of the company's stock worth $2,189,000 after purchasing an additional 3,416 shares during the last quarter. Institutional investors own 25.33% of the company's stock.

About MetroCity Bankshares

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.