MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02, Zacks reports. The company had revenue of $37.91 million during the quarter, compared to the consensus estimate of $36.10 million. MetroCity Bankshares had a return on equity of 15.91% and a net margin of 28.03%.
MetroCity Bankshares Trading Down 0.1%
MetroCity Bankshares stock traded down $0.02 during trading hours on Friday, reaching $29.30. The company had a trading volume of 37,967 shares, compared to its average volume of 40,914. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.25. The company has a 50-day moving average price of $28.48 and a 200 day moving average price of $28.92. The firm has a market cap of $744.22 million, a price-to-earnings ratio of 11.40 and a beta of 0.61. MetroCity Bankshares has a 12-month low of $24.24 and a 12-month high of $36.15.
MetroCity Bankshares Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 30th will be paid a $0.25 dividend. This is a boost from MetroCity Bankshares's previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, July 30th. MetroCity Bankshares's payout ratio is 35.80%.
Institutional Investors Weigh In On MetroCity Bankshares
An institutional investor recently bought a new position in MetroCity Bankshares stock. Jane Street Group LLC purchased a new stake in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,007 shares of the company's stock, valued at approximately $717,000. Jane Street Group LLC owned approximately 0.10% of MetroCity Bankshares as of its most recent SEC filing. 25.33% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods cut their target price on MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd.
Check Out Our Latest Analysis on MetroCity Bankshares
MetroCity Bankshares Company Profile
(
Get Free Report)
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.
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