S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01

MetroCity Bankshares (NASDAQ:MCBS) Downgraded to Hold at Zacks Investment Research

Tuesday, December 28, 2021 | MarketBeat

MetroCity Bankshares (NASDAQ:MCBS) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, "MetroCity Bankshares Inc. is a bank holding company for its wholly-owned banking subsidiary, Metro City Bank. It offers savings accounts, debit and credit cards, business and personal loans, mortgages, cash management, line of credit, online banking and e-statements. The company operates primarily in Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia. MetroCity Bankshares Inc. is based in ATLANTA, Ga. "

Shares of NASDAQ MCBS opened at $27.69 on Tuesday. The business's 50 day moving average is $26.35 and its two-hundred day moving average is $22.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.24 and a quick ratio of 1.24. MetroCity Bankshares has a 1-year low of $14.00 and a 1-year high of $29.82. The stock has a market capitalization of $705.13 million, a P/E ratio of 13.25 and a beta of 0.50.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Thursday, October 21st. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.61 by $0.05. MetroCity Bankshares had a return on equity of 20.65% and a net margin of 41.26%. The company had revenue of $37.72 million for the quarter, compared to analysts' expectations of $34.30 million. As a group, equities research analysts anticipate that MetroCity Bankshares will post 2.38 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in MCBS. Morgan Stanley boosted its position in shares of MetroCity Bankshares by 48.6% during the third quarter. Morgan Stanley now owns 1,425 shares of the company's stock valued at $29,000 after buying an additional 466 shares during the period. Citigroup Inc. boosted its position in shares of MetroCity Bankshares by 128.6% during the third quarter. Citigroup Inc. now owns 2,062 shares of the company's stock valued at $43,000 after buying an additional 1,160 shares during the period. Metropolitan Life Insurance Co NY purchased a new position in shares of MetroCity Bankshares during the second quarter valued at approximately $100,000. MetLife Investment Management LLC purchased a new position in shares of MetroCity Bankshares during the second quarter valued at approximately $131,000. Finally, Barclays PLC boosted its position in shares of MetroCity Bankshares by 222.9% during the third quarter. Barclays PLC now owns 7,760 shares of the company's stock valued at $163,000 after buying an additional 5,357 shares during the period. Institutional investors and hedge funds own 15.56% of the company's stock.

About MetroCity Bankshares

MetroCity Bankshares, Inc is a bank holding company, which engages in the provision of commercial bank services. The firm offers customary banking services as consumer and commercial checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, single family residential loans, and money transfers services.

Further Reading: Trading Halts Explained

Get a free copy of the Zacks research report on MetroCity Bankshares (MCBS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in MetroCity Bankshares right now?

Before you consider MetroCity Bankshares, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MetroCity Bankshares wasn't on the list.

While MetroCity Bankshares currently has a "N/A" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.