MetroCity Bankshares (NASDAQ:MCBS) Sees Unusually-High Trading Volume – Time to Buy?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) shares saw an uptick in trading volume on Friday . 24,432 shares changed hands during trading, a decline of 29% from the previous session’s volume of 34,454 shares.The stock last traded at $28.48 and had previously closed at $28.67.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their target price on shares of MetroCity Bankshares from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

MetroCity Bankshares Stock Performance

The stock’s 50-day simple moving average is $31.00 and its 200-day simple moving average is $31.44. The stock has a market cap of $719.18 million, a price-to-earnings ratio of 11.31 and a beta of 0.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares (NASDAQ:MCBS) last announced its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same quarter last year, the firm posted $0.65 EPS.

MetroCity Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Wednesday, January 29th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, January 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.24%. MetroCity Bankshares’s dividend payout ratio is 36.65%.

Institutional Trading of MetroCity Bankshares

Several large investors have recently made changes to their positions in MCBS. BNP Paribas Financial Markets acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth approximately $83,000. KLP Kapitalforvaltning AS acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth approximately $99,000. Janus Henderson Group PLC acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth approximately $205,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of MetroCity Bankshares during the 4th quarter worth approximately $224,000. Finally, PDT Partners LLC acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter worth approximately $228,000. Institutional investors and hedge funds 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.