MetroCity Bankshares (NASDAQ:MCBS) PT Raised to $28.00 at Keefe, Bruyette & Woods

MetroCity Bankshares (NASDAQ:MCBS) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 15.37% from the company’s current price.

MetroCity Bankshares Stock Up 2.3 %

Shares of NASDAQ MCBS traded up $0.55 on Tuesday, hitting $24.27. The company had a trading volume of 19,831 shares, compared to its average volume of 17,681. MetroCity Bankshares has a 12-month low of $13.10 and a 12-month high of $26.23. The business has a 50 day moving average of $23.80 and a two-hundred day moving average of $22.81. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $611.85 million, a P/E ratio of 12.32 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 23.26% and a return on equity of 13.30%. The firm had revenue of $55.38 million for the quarter.

Hedge Funds Weigh In On MetroCity Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCBS. SG Americas Securities LLC purchased a new stake in shares of MetroCity Bankshares in the third quarter valued at $170,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of MetroCity Bankshares by 17.4% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,064 shares of the company’s stock valued at $257,000 after purchasing an additional 1,936 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc acquired a new stake in MetroCity Bankshares during the fourth quarter worth about $712,000. Finally, Cahaba Wealth Management Inc. acquired a new stake in MetroCity Bankshares during the first quarter worth about $998,000. 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.