MetroCity Bankshares (NASDAQ:MCBS) Reaches New 12-Month High - Should You Buy?

Key Points

• Shares of MetroCity Bankshares (MCBS) hit a new 52-week high intraday at $33.67 and were last trading around $32.52 on modest volume (~4,100 shares).
• The company posted an earnings beat with Q results of $0.77 EPS versus a $0.70 consensus and reported strong profitability metrics (ROE 15.72%, net margin 28.16%).
• MetroCity raised its quarterly dividend to $0.29 (annualized $1.16, yield ~3.6%) and analysts have recently upgraded coverage, leaving a MarketBeat consensus of Moderate Buy with an average target of $33.

Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $33.67 and last traded at $32.52, with a volume of 4101 shares traded. The stock had previously closed at $32.49.

Analyst Ratings Changes

MCBS has been the subject of a number of research analyst reports. Wall Street Zen upgraded MetroCity Bankshares from a "hold" rating to a "buy" rating in a report on Saturday, April 25th. Weiss Ratings upgraded MetroCity Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 18th. Finally, Keefe, Bruyette & Woods boosted their price target on MetroCity Bankshares from $32.00 to $33.00 and gave the company a "market perform" rating in a report on Thursday, April 9th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, MetroCity Bankshares presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

MetroCity Bankshares Trading Down 0.0%

The firm has a market cap of $930.73 million, a P/E ratio of 11.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a fifty day moving average of $29.86 and a 200-day moving average of $28.17.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $50.84 million for the quarter, compared to the consensus estimate of $50.80 million. MetroCity Bankshares had a return on equity of 15.72% and a net margin of 28.16%.

MetroCity Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 29th will be issued a $0.29 dividend. This is a positive change from MetroCity Bankshares's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.6%. MetroCity Bankshares's dividend payout ratio (DPR) is 41.88%.

Institutional Trading of MetroCity Bankshares

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in MetroCity Bankshares by 78.8% during the 3rd quarter. CWM LLC now owns 955 shares of the company's stock valued at $26,000 after acquiring an additional 421 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in MetroCity Bankshares during the 3rd quarter valued at $28,000. Russell Investments Group Ltd. bought a new stake in MetroCity Bankshares during the 3rd quarter valued at $45,000. BNP Paribas Financial Markets increased its position in shares of MetroCity Bankshares by 21.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company's stock valued at $87,000 after purchasing an additional 540 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of MetroCity Bankshares in the 4th quarter worth $99,000. 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.

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