MetroCity Bankshares (NASDAQ:MCBS) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of MetroCity Bankshares (NASDAQ:MCBS) from a hold rating to a sell rating in a research report released on Saturday.

Separately, Weiss Ratings raised shares of MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.00.

MetroCity Bankshares Stock Down 0.1%

MCBS opened at $28.34 on Friday. The business’s fifty day moving average is $28.06 and its two-hundred day moving average is $27.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.27. The company has a market cap of $722.10 million, a price-to-earnings ratio of 10.78 and a beta of 0.72. MetroCity Bankshares has a one year low of $24.24 and a one year high of $31.06.

MetroCity Bankshares (NASDAQ:MCBS) last posted its earnings results on Friday, January 30th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The firm had revenue of $43.74 million during the quarter, compared to analyst estimates of $44.50 million. MetroCity Bankshares had a net margin of 27.93% and a return on equity of 15.73%.

MetroCity Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Wednesday, February 4th. MetroCity Bankshares’s dividend payout ratio is 38.02%.

Hedge Funds Weigh In On MetroCity Bankshares

A number of institutional investors have recently made changes to their positions in the stock. HoldCo Asset Management LP purchased a new stake in shares of MetroCity Bankshares in the fourth quarter valued at $2,671,000. American Century Companies Inc. increased its position in MetroCity Bankshares by 13.6% during the 2nd quarter. American Century Companies Inc. now owns 430,922 shares of the company’s stock worth $12,316,000 after purchasing an additional 51,523 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in MetroCity Bankshares by 511.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 49,741 shares of the company’s stock valued at $1,422,000 after purchasing an additional 41,610 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in MetroCity Bankshares by 122.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 67,996 shares of the company’s stock valued at $1,805,000 after purchasing an additional 37,372 shares during the last quarter. Finally, Creative Planning acquired a new position in MetroCity Bankshares in the 2nd quarter valued at about $815,000. 25.33% of the stock is owned by institutional investors and hedge funds.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.

MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.