MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) had its price target hoisted by investment analysts at Keefe, Bruyette & Woods from $32.00 to $34.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 12.51% from the company’s previous close.
MetroCity Bankshares Price Performance
MCBS traded up $0.08 on Tuesday, hitting $30.22. 1,858 shares of the stock were exchanged, compared to its average volume of 32,628. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. MetroCity Bankshares has a 12 month low of $19.20 and a 12 month high of $32.87. The firm has a market capitalization of $761.73 million, a price-to-earnings ratio of 15.34 and a beta of 0.60. The business has a 50-day moving average of $29.77 and a two-hundred day moving average of $27.16.
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $60.45 million during the quarter. MetroCity Bankshares had a net margin of 24.20% and a return on equity of 13.85%.
Insider Transactions at MetroCity Bankshares
Hedge Funds Weigh In On MetroCity Bankshares
Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of MetroCity Bankshares in the third quarter valued at approximately $212,000. Creative Planning bought a new stake in MetroCity Bankshares during the 3rd quarter worth approximately $331,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in MetroCity Bankshares by 3.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,066 shares of the company’s stock worth $351,000 after acquiring an additional 472 shares during the last quarter. Inspire Investing LLC acquired a new position in MetroCity Bankshares in the 1st quarter valued at approximately $361,000. Finally, Sanctuary Advisors LLC bought a new position in shares of MetroCity Bankshares during the second quarter valued at $377,000. 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.
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