MetroCity Bankshares (NASDAQ:MCBS) PT Raised to $28.00 at Keefe, Bruyette & Woods

MetroCity Bankshares (NASDAQ:MCBS) had its price target lifted by stock analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 15.08% from the stock’s previous close.

MetroCity Bankshares Trading Down 0.4 %

NASDAQ:MCBS opened at $24.33 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $613.36 million, a price-to-earnings ratio of 12.35 and a beta of 0.57. The firm has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $22.85. MetroCity Bankshares has a 12 month low of $13.10 and a 12 month high of $26.23.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company 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%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of MetroCity Bankshares during the third quarter valued at about $170,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of MetroCity Bankshares by 17.4% during 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 buying an additional 1,936 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc acquired a new position in shares of MetroCity Bankshares during the fourth quarter valued at about $712,000. Finally, Cahaba Wealth Management Inc. acquired a new position in shares of MetroCity Bankshares during the first quarter valued at about $998,000. 25.33% of the stock is currently owned by institutional investors and hedge funds.

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.