MetroCity Bankshares (NASDAQ:MCBS) Announces Quarterly Earnings Results

by · The Markets Daily

MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) released its quarterly earnings results on Friday. The company reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84, Zacks reports. MetroCity Bankshares had a return on equity of 15.16% and a net margin of 28.40%.

MetroCity Bankshares Price Performance

MCBS traded up $0.31 on Friday, hitting $35.74. 111,357 shares of the stock were exchanged, compared to its average volume of 88,431. MetroCity Bankshares has a 12 month low of $24.53 and a 12 month high of $37.46. The business has a 50-day moving average of $35.09 and a two-hundred day moving average of $34.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.41 and a beta of 0.70.

MetroCity Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, November 4th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.5%. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 4th. MetroCity Bankshares’s payout ratio is presently 40.28%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCBS. Weiss Ratings reiterated a “buy (b)” rating on shares of MetroCity Bankshares in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of MetroCity Bankshares from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, MetroCity Bankshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Get Our Latest Stock Analysis on MCBS

About MetroCity Bankshares

(Get Free Report)

MetroCity Bankshares, Inc is the bank holding company for Metro City Bank, a community bank headquartered in the Atlanta metropolitan area. The bank provides traditional banking services to businesses, individuals and community organizations, with a particular focus on Korean American and other multicultural communities.

Metro City Bank offers commercial and consumer deposit accounts, commercial real estate and commercial business loans, residential mortgage loans, construction lending, home equity products and other consumer credit products.

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