MetroCity Bankshares (NASDAQ:MCBS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised its price target on MetroCity Bankshares to $33 from $32 and kept a "market perform" rating, implying roughly a 5.15% upside from the current share price.
• Other firms including Weiss Ratings and Wall Street Zen have upgraded the stock to "buy," and MarketBeat shows an average rating of "Moderate Buy" with a consensus price target of $33.
• Shares traded up about 2.2% to $31.39 while the company reported quarterly EPS of $0.68, missing estimates by $0.05 and with revenue slightly below consensus, though net margin (27.9%) and ROE (14.8%) remain relatively strong.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) had its price objective upped by equities research analysts at Keefe, Bruyette & Woods from $32.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 5.15% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings raised MetroCity Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. Wall Street Zen raised MetroCity Bankshares from a "hold" rating to a "buy" rating in a research note on Sunday, March 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.00.

MetroCity Bankshares Trading Up 2.2%

Shares of NASDAQ:MCBS traded up $0.69 on Thursday, reaching $31.39. 37,656 shares of the company traded hands, compared to its average volume of 92,314. The business's 50-day simple moving average is $28.80 and its 200 day simple moving average is $27.58. MetroCity Bankshares has a 52 week low of $24.53 and a 52 week high of $31.44. The stock has a market capitalization of $902.32 million, a P/E ratio of 11.93 and a beta of 0.68. 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 (NASDAQ:MCBS - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.05). MetroCity Bankshares had a net margin of 27.93% and a return on equity of 14.82%. The company had revenue of $43.74 million for the quarter, compared to the consensus estimate of $44.50 million.

Institutional Trading of MetroCity Bankshares

Large investors have recently modified their holdings of the business. CWM LLC grew its stake in shares of MetroCity Bankshares by 78.8% in the third quarter. CWM LLC now owns 955 shares of the company's stock worth $26,000 after purchasing an additional 421 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of MetroCity Bankshares in the third quarter worth about $28,000. Russell Investments Group Ltd. bought a new stake in shares of MetroCity Bankshares in the third quarter worth about $45,000. BNP Paribas Financial Markets grew its stake in shares of MetroCity Bankshares by 21.5% in the second quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company's stock worth $87,000 after purchasing an additional 540 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of MetroCity Bankshares in the fourth quarter worth about $99,000. 25.33% of the stock is owned by institutional investors.

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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