MetroCity Bankshares (MCBS) to Release Quarterly Earnings on Tuesday

MetroCity Bankshares (NASDAQ:MCBS) is projected to issue its quarterly earnings data before the market opens on Tuesday, January 21st. Analysts expect the company to announce earnings of $0.61 per share and revenue of $35,300.00 billion for the quarter.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%. The firm had revenue of $60.45 million during the quarter.

MetroCity Bankshares Stock Up 0.5 %

Shares of NASDAQ:MCBS opened at $31.74 on Friday. MetroCity Bankshares has a 12 month low of $21.89 and a 12 month high of $36.15. The firm has a market cap of $803.97 million, a P/E ratio of 13.68 and a beta of 0.64. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $33.19 and its two-hundred day moving average price is $30.80.

MetroCity Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.90%. MetroCity Bankshares’s payout ratio is currently 39.66%.

Insiders Place Their Bets

In related news, President Farid Tan sold 21,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $33.81, for a total value of $710,010.00. Following the transaction, the president now owns 923,888 shares in the company, valued at approximately $31,236,653.28. This trade represents a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ajit A. Patel sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $33.10, for a total value of $165,500.00. Following the completion of the sale, the director now directly owns 645,739 shares in the company, valued at $21,373,960.90. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,600 shares of company stock valued at $1,181,786. 27.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.