MetroCity Bankshares (NASDAQ:MCBS) Shares Gap Down – Time to Sell?

Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) gapped down prior to trading on Monday . The stock had previously closed at $27.98, but opened at $27.01. MetroCity Bankshares shares last traded at $28.1150, with a volume of 3,748 shares trading hands.

Wall Street Analysts Forecast Growth

MCBS has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of MetroCity Bankshares from $33.00 to $31.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 21st. Weiss Ratings downgraded MetroCity Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

MetroCity Bankshares Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.27 and a quick ratio of 1.18. The firm has a market cap of $690.64 million, a PE ratio of 10.51 and a beta of 0.72. The business has a 50-day simple moving average of $26.60 and a 200 day simple moving average of $27.91.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Friday, October 17th. The company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. MetroCity Bankshares had a net margin of 28.25% and a return on equity of 15.39%. The company had revenue of $37.97 million during the quarter, compared to analyst estimates of $37.70 million.

MetroCity Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Wednesday, October 29th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, October 29th. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 38.76%.

Institutional Investors Weigh In On MetroCity Bankshares

A number of institutional investors have recently bought and sold shares of MCBS. CWM LLC raised its holdings in MetroCity Bankshares by 78.8% during the third quarter. CWM LLC now owns 955 shares of the company’s stock valued at $26,000 after acquiring an additional 421 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of MetroCity Bankshares during the third quarter worth about $28,000. Russell Investments Group Ltd. bought a new stake in MetroCity Bankshares during the 3rd quarter valued at approximately $45,000. BNP Paribas Financial Markets lifted its holdings in MetroCity Bankshares by 21.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock worth $87,000 after purchasing an additional 540 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in MetroCity Bankshares by 69.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,608 shares of the company’s stock worth $103,000 after purchasing an additional 1,476 shares during the period. Hedge funds and other institutional investors own 25.33% of the company’s stock.

About MetroCity Bankshares

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.