MetroCity Bankshares (NASDAQ:MCBS) PT Raised to $28.00 at Keefe, Bruyette & Woods

MetroCity Bankshares (NASDAQ:MCBS) had its target price raised by analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 15.37% from the company’s previous close.

MetroCity Bankshares Trading Up 2.3 %

NASDAQ MCBS traded up $0.55 during trading hours on Tuesday, hitting $24.27. The company’s stock had a trading volume of 19,831 shares, compared to its average volume of 17,681. MetroCity Bankshares has a twelve month low of $13.10 and a twelve month high of $26.23. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $611.85 million, a P/E ratio of 12.32 and a beta of 0.57. The stock has a fifty day moving average of $23.80 and a 200 day moving average of $22.81.

MetroCity Bankshares (NASDAQ:MCBS) last issued its earnings results on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 23.26% and a return on equity of 13.30%. The firm had revenue of $55.38 million during the quarter.

Institutional Investors Weigh In On MetroCity Bankshares

Several large investors have recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of MetroCity Bankshares by 4.1% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,594 shares of the company’s stock worth $327,000 after acquiring an additional 530 shares in the last quarter. SG Americas Securities LLC grew its position in MetroCity Bankshares by 19.0% in the fourth quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock valued at $247,000 after purchasing an additional 1,647 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc bought a new position in MetroCity Bankshares in the fourth quarter valued at $712,000. Finally, Cahaba Wealth Management Inc. bought a new position in MetroCity Bankshares in the first quarter valued at $998,000. Institutional investors 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.