MetroCity Bankshares (NASDAQ:MCBS) Shares Down 0.1% – Time to Sell?

MetroCity Bankshares, Inc. (NASDAQ:MCBS)’s share price dropped 0.1% during trading on Thursday . The company traded as low as $29.69 and last traded at $29.93. Approximately 20,325 shares were traded 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 raised their price objective on shares of MetroCity Bankshares from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

MetroCity Bankshares Stock Up 0.4 %

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 firm has a market cap of $761.00 million, a P/E ratio of 12.00 and a beta of 0.62. The stock’s 50-day simple moving average is $31.40 and its 200 day simple moving average is $31.34.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $0.65 EPS.

MetroCity Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Wednesday, January 29th. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 36.65%.

Institutional Investors Weigh In On MetroCity Bankshares

Large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of MetroCity Bankshares by 10.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,434 shares of the company’s stock worth $908,000 after purchasing an additional 2,742 shares in the last quarter. Two Sigma Advisers LP grew its stake 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 during the period. Nuveen Asset Management LLC grew its stake in shares of MetroCity Bankshares by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 68,503 shares of the company’s stock valued at $2,189,000 after purchasing an additional 3,416 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MetroCity Bankshares by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company’s stock valued at $336,000 after buying an additional 364 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of MetroCity Bankshares by 42.5% during the 4th quarter. Lazard Asset Management LLC now owns 8,621 shares of the company’s stock valued at $275,000 after buying an additional 2,572 shares in the last quarter. Institutional investors own 25.33% of the company’s stock.

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.