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

MetroCity Bankshares (NASDAQ:MCBS) had its price target boosted by Keefe, Bruyette & Woods from $27.00 to $28.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a market perform rating on the stock.

MetroCity Bankshares Stock Performance

NASDAQ:MCBS opened at $23.85 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.21. The company has a fifty day moving average of $23.83 and a two-hundred day moving average of $22.85. The stock has a market capitalization of $601.26 million, a PE ratio of 12.11 and a beta of 0.57. MetroCity Bankshares has a fifty-two week low of $13.10 and a fifty-two week high of $26.23.

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

MetroCity Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, May 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, April 30th. MetroCity Bankshares’s payout ratio is 40.61%.

Institutional Trading of MetroCity Bankshares

Several large investors have recently made changes to their positions in the company. Cahaba Wealth Management Inc. purchased a new stake in shares of MetroCity Bankshares during the first quarter worth approximately $998,000. Sherrill & Hutchins Financial Advisory Inc acquired a new position in shares of MetroCity Bankshares during the 4th quarter worth approximately $712,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of MetroCity Bankshares by 4.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,594 shares of the company’s stock worth $327,000 after purchasing an additional 530 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of MetroCity Bankshares by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock worth $247,000 after purchasing an additional 1,647 shares during the last quarter. 25.33% of the stock is currently owned by hedge funds and other 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.