MetroCity Bankshares (NASDAQ:MCBS) Sees Unusually-High Trading Volume – Here’s What Happened

MetroCity Bankshares, Inc. (NASDAQ:MCBS) 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.

Wall Street Analyst Weigh In

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

MetroCity Bankshares Stock Down 1.3 %

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average price is $30.25 and its two-hundred day moving average price is $31.29. The firm has a market cap of $689.56 million, a PE ratio of 10.81 and a beta of 0.58.

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

MetroCity Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were issued 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 3.39%. MetroCity Bankshares’s dividend payout ratio is currently 36.65%.

Institutional Trading of MetroCity Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of MCBS. GSA Capital Partners LLP bought a new stake in MetroCity Bankshares in the 3rd quarter valued at $251,000. Charles Schwab Investment Management Inc. increased its holdings in MetroCity Bankshares by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock valued at $4,524,000 after acquiring an additional 2,745 shares during the last quarter. PDT Partners LLC bought a new stake in MetroCity Bankshares in the 3rd quarter valued at $228,000. State Street Corp increased its holdings in MetroCity Bankshares by 2.9% in the 3rd quarter. State Street Corp now owns 429,312 shares of the company’s stock valued at $13,146,000 after acquiring an additional 11,900 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of MetroCity Bankshares by 2.3% in the 3rd quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock worth $501,000 after buying an additional 370 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors.

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.