MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 28,714 shares changed hands during mid-day trading, a decline of 19% from the previous session's volume of 35,296 shares.The stock last traded at $26.96 and had previously closed at $27.49.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods lifted their price target on MetroCity Bankshares from $34.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.
View Our Latest Analysis on MetroCity Bankshares
MetroCity Bankshares Trading Down 1.4 %
The stock has a 50-day moving average of $30.08 and a 200 day moving average of $31.26. 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 market cap of $698.07 million, a PE ratio of 10.95 and a beta of 0.58.
MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same period in the prior year, the company posted $0.65 EPS.
MetroCity Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.35%. The ex-dividend date was Wednesday, January 29th. MetroCity Bankshares's dividend payout ratio is currently 36.65%.
Hedge Funds Weigh In On MetroCity Bankshares
Several institutional investors and hedge funds have recently modified their holdings of MCBS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MetroCity Bankshares by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company's stock valued at $336,000 after acquiring an additional 364 shares in the last quarter. Jane Street Group LLC grew its stake in shares of MetroCity Bankshares by 2.3% during the 3rd quarter. Jane Street Group LLC now owns 16,357 shares of the company's stock worth $501,000 after purchasing an additional 370 shares during the period. Two Sigma Advisers LP increased its holdings in shares of MetroCity Bankshares by 7.7% during the 4th quarter. Two Sigma Advisers LP now owns 14,000 shares of the company's stock valued at $447,000 after purchasing an additional 1,000 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of MetroCity Bankshares by 10.1% in the 4th quarter. MetLife Investment Management LLC now owns 11,032 shares of the company's stock valued at $352,000 after purchasing an additional 1,012 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in MetroCity Bankshares by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 148,831 shares of the company's stock worth $4,755,000 after buying an additional 1,086 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company's stock.
MetroCity Bankshares Company Profile
(
Get Free Report)
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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