MetroCity Bankshares (NASDAQ:MCBS) Shares Down 0.1% - What's Next?

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report)'s stock price fell 0.1% on Thursday . The stock traded as low as $29.69 and last traded at $29.93. 20,325 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 34,366 shares. The stock had previously closed at $29.96.

Analyst Ratings Changes

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

MetroCity Bankshares Stock Down 3.2 %

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock's 50-day moving average price is $31.31 and its 200-day moving average price is $31.44. The company has a market cap of $732.09 million, a P/E ratio of 11.51 and a beta of 0.62.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. During the same period last year, the company earned $0.65 EPS.

Remove Ads

MetroCity Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Wednesday, January 29th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, January 29th. MetroCity Bankshares's payout ratio is currently 36.65%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MCBS. American Century Companies Inc. increased its position in shares of MetroCity Bankshares by 34.4% during the fourth quarter. American Century Companies Inc. now owns 309,264 shares of the company's stock worth $9,881,000 after acquiring an additional 79,080 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MetroCity Bankshares by 81.4% during the 4th quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company's stock worth $2,501,000 after purchasing an additional 35,118 shares in the last quarter. Barclays PLC raised its stake in shares of MetroCity Bankshares by 345.5% in the third quarter. Barclays PLC now owns 28,341 shares of the company's stock worth $868,000 after purchasing an additional 21,979 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MetroCity Bankshares in the fourth quarter valued at approximately $562,000. Finally, First Trust Advisors LP purchased a new position in shares of MetroCity Bankshares during the fourth quarter valued at approximately $490,000. 25.33% of the stock is owned by institutional investors.

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.