MetroCity Bankshares (NASDAQ:MCBS) Shares Down 0.1% – Here’s Why

MetroCity Bankshares, Inc. (NASDAQ:MCBS) were down 0.1% on Thursday . The stock traded as low as $29.69 and last traded at $29.93. Approximately 20,325 shares traded hands during trading, a decline of 41% from the average daily volume of 34,366 shares. The stock had previously closed at $29.96.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective on 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 Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $761.00 million, a price-to-earnings ratio of 12.00 and a beta of 0.62. The firm has a fifty day simple moving average of $31.40 and a two-hundred day simple moving average of $31.34.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share for the quarter, beating 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 quarter in the previous year, the company earned $0.65 earnings per share.

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 issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, January 29th. This represents a $0.92 annualized dividend and a yield of 3.06%. MetroCity Bankshares’s dividend payout ratio (DPR) is 36.65%.

Institutional Trading of MetroCity Bankshares

A number of large investors have recently made changes to their positions in MCBS. State Street Corp increased its stake in MetroCity Bankshares by 2.9% in the 3rd quarter. State Street Corp now owns 429,312 shares of the company’s stock valued at $13,146,000 after purchasing an additional 11,900 shares in the last quarter. Barclays PLC lifted its stake in shares of MetroCity Bankshares by 345.5% during 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 in the last quarter. Franklin Resources Inc. increased its position in shares of MetroCity Bankshares by 15.4% during the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock worth $358,000 after acquiring an additional 1,557 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MetroCity Bankshares by 1.5% during the third quarter. Geode Capital Management LLC now owns 424,739 shares of the company’s stock worth $13,009,000 after acquiring an additional 6,341 shares during the last quarter. Finally, Creative Planning bought a new stake in MetroCity Bankshares in the third quarter valued at about $331,000. 25.33% of the stock is owned by institutional investors and hedge funds.

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.