MetroCity Bankshares (NASDAQ:MCBS) Cut to “Sell” at Wall Street Zen

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

Separately, Weiss Ratings raised MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

MetroCity Bankshares Price Performance

Shares of MCBS opened at $28.20 on Friday. MetroCity Bankshares has a twelve month low of $24.24 and a twelve month high of $31.06. The firm’s fifty day simple moving average is $28.09 and its 200-day simple moving average is $27.69. The firm has a market capitalization of $718.54 million, a price-to-earnings ratio of 10.72 and a beta of 0.72. The company has a current ratio of 1.27, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

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

MetroCity Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, February 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, February 4th. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 38.02%.

Institutional Investors Weigh In On MetroCity Bankshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of MetroCity Bankshares by 13.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,640 shares of the company’s stock worth $309,000 after buying an additional 1,373 shares during the period. Mariner LLC grew its holdings in shares of MetroCity Bankshares by 11.4% during the fourth quarter. Mariner LLC now owns 14,755 shares of the company’s stock worth $392,000 after buying an additional 1,511 shares during the last quarter. Barclays PLC increased its position in MetroCity Bankshares by 19.0% in the 4th quarter. Barclays PLC now owns 38,710 shares of the company’s stock valued at $1,027,000 after acquiring an additional 6,194 shares during the period. CANADA LIFE ASSURANCE Co increased its position in MetroCity Bankshares by 716.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,464 shares of the company’s stock valued at $171,000 after acquiring an additional 5,672 shares during the period. Finally, State Street Corp raised its stake in MetroCity Bankshares by 1.3% during the 4th quarter. State Street Corp now owns 445,316 shares of the company’s stock valued at $11,819,000 after acquiring an additional 5,543 shares during the last quarter. 25.33% of the stock is owned by hedge funds and other institutional investors.

About MetroCity Bankshares

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.