MetroCity Bankshares (NASDAQ:MCBS) Sees Large Volume Increase – Still a Buy?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) shares saw unusually-high trading volume on Thursday . Approximately 28,182 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 34,693 shares.The stock last traded at $27.70 and had previously closed at $27.45.

Wall Street Analyst Weigh In

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

MetroCity Bankshares Price Performance

The stock has a market capitalization of $699.04 million, a P/E ratio of 10.99 and a beta of 0.58. 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 company’s 50-day simple moving average is $30.73 and its 200-day simple moving average is $31.42.

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

MetroCity Bankshares Announces Dividend

The firm also recently announced 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. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, January 29th. MetroCity Bankshares’s payout ratio is 36.65%.

Hedge Funds Weigh In On MetroCity Bankshares

A number of hedge funds have recently made changes to their positions in MCBS. BNP Paribas Financial Markets purchased a new position in shares of MetroCity Bankshares during the 4th quarter valued at $83,000. KLP Kapitalforvaltning AS bought a new stake in shares of MetroCity Bankshares during the fourth quarter valued at about $99,000. Janus Henderson Group PLC bought a new position in shares of MetroCity Bankshares in the fourth quarter valued at approximately $205,000. Price T Rowe Associates Inc. MD purchased a new position in MetroCity Bankshares during the fourth quarter valued at approximately $224,000. Finally, PDT Partners LLC bought a new stake in MetroCity Bankshares during the 3rd quarter worth approximately $228,000. 25.33% of the stock is currently owned by institutional investors.

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.