MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Up – What’s Next?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $27.48, but opened at $28.08. MetroCity Bankshares shares last traded at $27.96, with a volume of 915 shares traded.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on 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 company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $29.92 and its two-hundred day moving average price is $31.21. The stock has a market cap of $702.39 million, a PE ratio of 11.02 and a beta of 0.58.

MetroCity Bankshares (NASDAQ:MCBS) last announced its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) 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 firm posted $0.65 EPS.

MetroCity Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were issued a $0.23 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. MetroCity Bankshares’s dividend payout ratio is presently 36.65%.

Institutional Trading of MetroCity Bankshares

A number of institutional investors have recently modified their holdings of MCBS. Charles Schwab Investment Management Inc. raised its stake in shares of MetroCity Bankshares by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock worth $4,524,000 after acquiring an additional 2,745 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of MetroCity Bankshares during the 3rd quarter valued at $228,000. State Street Corp lifted its holdings in shares of MetroCity Bankshares by 2.9% during 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 during the last quarter. Jane Street Group LLC boosted its position in shares of MetroCity Bankshares by 2.3% in the 3rd quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock worth $501,000 after purchasing an additional 370 shares in the last quarter. Finally, Barclays PLC grew its stake in MetroCity Bankshares by 345.5% during the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock worth $868,000 after buying an additional 21,979 shares during the last quarter. 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.