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

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

MetroCity Bankshares Stock Performance

Shares of NASDAQ:MCBS opened at $24.07 on Tuesday. MetroCity Bankshares has a twelve month low of $13.10 and a twelve month high of $26.23. The firm has a market cap of $606.71 million, a PE ratio of 12.22 and a beta of 0.57. 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 business has a fifty day moving average of $23.82 and a 200-day moving average of $22.88.

MetroCity Bankshares (NASDAQ:MCBS) last announced its earnings results 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 net margin of 23.26% and a return on equity of 13.30%. The business had revenue of $55.38 million during the quarter.

MetroCity Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, May 1st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.32%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 40.61%.

Institutional Trading of MetroCity Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in MCBS. SG Americas Securities LLC acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at $170,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in MetroCity Bankshares by 17.4% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,064 shares of the company’s stock valued at $257,000 after acquiring an additional 1,936 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc bought a new position in MetroCity Bankshares in the fourth quarter valued at about $712,000. Finally, Cahaba Wealth Management Inc. bought a new position in MetroCity Bankshares in the first quarter valued at about $998,000. 25.33% of the stock is currently owned by institutional investors and hedge funds.

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.