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

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

MetroCity Bankshares Stock Down 2.0 %

MCBS stock opened at $23.85 on Tuesday. The stock has a 50-day simple moving average of $23.83 and a two-hundred day simple moving average of $22.85. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. MetroCity Bankshares has a twelve month low of $13.10 and a twelve month high of $26.23. The firm has a market capitalization of $601.26 million, a PE ratio of 12.11 and a beta of 0.57.

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

MetroCity Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders 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 yield of 3.35%. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 40.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MCBS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in 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 valued at $327,000 after buying an additional 530 shares during the period. SG Americas Securities LLC grew its stake in shares of MetroCity Bankshares by 19.0% in the fourth 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. Sherrill & Hutchins Financial Advisory Inc purchased a new position in MetroCity Bankshares during the 4th quarter valued at about $712,000. Finally, Cahaba Wealth Management Inc. bought a new position in MetroCity Bankshares during the 1st quarter valued at approximately $998,000. Institutional investors own 25.33% of the company’s stock.

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.