MetroCity Bankshares (MCBS) Expected to Announce Earnings on Tuesday

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) is projected to post its quarterly earnings results before the market opens on Tuesday, January 21st. Analysts expect the company to announce earnings of $0.61 per share and revenue of $35,300.00 billion for the quarter.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $60.45 million during the quarter. MetroCity Bankshares had a net margin of 25.54% and a return on equity of 14.97%.

MetroCity Bankshares Stock Up 2.4 %

Shares of MCBS stock traded up $0.74 during trading on Wednesday, reaching $31.98. The company's stock had a trading volume of 33,267 shares, compared to its average volume of 43,174. MetroCity Bankshares has a one year low of $21.89 and a one year high of $36.15. The business has a fifty day moving average price of $33.32 and a 200-day moving average price of $30.74. The company has a market cap of $810.12 million, a price-to-earnings ratio of 13.78 and a beta of 0.64. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.88%. MetroCity Bankshares's dividend payout ratio (DPR) is presently 39.66%.

Insiders Place Their Bets

In related news, Director Ajit A. Patel sold 5,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $33.10, for a total value of $165,500.00. Following the completion of the sale, the director now directly owns 645,739 shares in the company, valued at approximately $21,373,960.90. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Farid Tan sold 5,983 shares of MetroCity Bankshares stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $35.64, for a total value of $213,234.12. Following the transaction, the president now owns 914,888 shares of the company's stock, valued at $32,606,608.32. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,600 shares of company stock valued at $1,181,786 in the last 90 days. 27.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price objective on MetroCity Bankshares from $34.00 to $36.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th.

MetroCity Bankshares Company Profile

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.

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