MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Down – Here’s What Happened

by · The Markets Daily

MetroCity Bankshares, Inc. (NASDAQ:MCBSGet Free Report) gapped down prior to trading on Monday . The stock had previously closed at $28.62, but opened at $27.31. MetroCity Bankshares shares last traded at $27.3950, with a volume of 956 shares traded.

Analyst Upgrades and Downgrades

MCBS has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of MetroCity Bankshares in a report on Friday, January 9th. Keefe, Bruyette & Woods lowered their price target on MetroCity Bankshares from $33.00 to $31.00 and set a “market perform” rating on the stock in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, MetroCity Bankshares currently has an average rating of “Hold” and a consensus price target of $31.00.

Read Our Latest Stock Report on MCBS

MetroCity Bankshares Stock Performance

The company has a fifty day moving average price of $27.06 and a two-hundred day moving average price of $27.69. The firm has a market cap of $698.79 million, a price-to-earnings ratio of 10.61 and a beta of 0.72. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.27 and a quick ratio of 1.18.

MetroCity Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, February 4th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. MetroCity Bankshares’s dividend payout ratio (DPR) is 38.76%.

Institutional Trading of MetroCity Bankshares

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in MetroCity Bankshares by 13.6% during the 2nd quarter. American Century Companies Inc. now owns 430,922 shares of the company’s stock worth $12,316,000 after purchasing an additional 51,523 shares in the last quarter. Creative Planning acquired a new stake in shares of MetroCity Bankshares in the second quarter worth $815,000. Los Angeles Capital Management LLC grew its holdings in shares of MetroCity Bankshares by 511.7% during the second quarter. Los Angeles Capital Management LLC now owns 49,741 shares of the company’s stock valued at $1,422,000 after buying an additional 41,610 shares in the last quarter. Inspire Investing LLC raised its position in MetroCity Bankshares by 9.7% during the second quarter. Inspire Investing LLC now owns 13,657 shares of the company’s stock valued at $390,000 after buying an additional 1,202 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in MetroCity Bankshares by 23.1% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 47,232 shares of the company’s stock worth $1,350,000 after acquiring an additional 8,857 shares in the last quarter. 25.33% of the stock is currently owned by institutional investors.

MetroCity Bankshares Company Profile

(Get Free Report)

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.

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