MetroCity Bankshares (NASDAQ:MCBS) Stock Rating Upgraded by Wall Street Zen

MetroCity Bankshares (NASDAQ:MCBS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other analysts have also issued reports on MCBS. Weiss Ratings upgraded MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Keefe, Bruyette & Woods boosted their target price on shares of MetroCity Bankshares from $31.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

MetroCity Bankshares Stock Up 1.3%

MetroCity Bankshares stock opened at $28.58 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.94. MetroCity Bankshares has a 1-year low of $24.24 and a 1-year high of $31.06. The company has a fifty day simple moving average of $28.51 and a 200 day simple moving average of $27.55. The company has a market cap of $821.68 million, a P/E ratio of 10.87 and a beta of 0.72.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $43.74 million for the quarter, compared to the consensus estimate of $44.50 million. MetroCity Bankshares had a return on equity of 14.82% and a net margin of 27.93%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MetroCity Bankshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock valued at $302,000 after purchasing an additional 468 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of MetroCity Bankshares during the 1st quarter worth about $717,000. Geode Capital Management LLC lifted its stake in shares of MetroCity Bankshares by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 443,930 shares of the company’s stock worth $12,690,000 after buying an additional 14,766 shares during the last quarter. Creative Planning bought a new stake in shares of MetroCity Bankshares during the 2nd quarter worth about $815,000. Finally, Legal & General Group Plc boosted its holdings in shares of MetroCity Bankshares by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 19,744 shares of the company’s stock worth $564,000 after buying an additional 1,460 shares during the period. 25.33% of the stock is owned by institutional investors and hedge funds.

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.