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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) shares saw unusually-high trading volume on Friday . Approximately 28,714 shares changed hands during trading, a decline of 19% from the previous session’s volume of 35,296 shares.The stock last traded at $26.96 and had previously closed at $27.49.

Analyst Upgrades and Downgrades

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

MetroCity Bankshares Stock Down 1.1 %

The company has a market cap of $690.96 million, a P/E ratio of 10.84 and a beta of 0.58. The stock has a 50 day moving average price of $30.20 and a 200 day moving average price of $31.28. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.24 and a current ratio of 1.24.

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

MetroCity Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $0.92 dividend on an annualized basis and a yield of 3.38%. MetroCity Bankshares’s payout ratio is 36.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCBS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MetroCity Bankshares by 10.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,434 shares of the company’s stock worth $908,000 after buying an additional 2,742 shares during the period. Two Sigma Advisers LP raised its stake in shares of MetroCity Bankshares by 7.7% in the 4th quarter. Two Sigma Advisers LP now owns 14,000 shares of the company’s stock valued at $447,000 after purchasing an additional 1,000 shares during the period. Nuveen Asset Management LLC raised its stake in shares of MetroCity Bankshares by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 68,503 shares of the company’s stock valued at $2,189,000 after purchasing an additional 3,416 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MetroCity Bankshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company’s stock valued at $336,000 after purchasing an additional 364 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of MetroCity Bankshares by 42.5% in the 4th quarter. Lazard Asset Management LLC now owns 8,621 shares of the company’s stock valued at $275,000 after purchasing an additional 2,572 shares during the period. 25.33% of the stock is currently owned by institutional investors.

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.