Keefe, Bruyette & Woods Increases MetroCity Bankshares (NASDAQ:MCBS) Price Target to $28.00

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) had its price objective lifted by analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 14.66% from the stock's current price.

MetroCity Bankshares Stock Up 0.6 %

NASDAQ MCBS traded up $0.15 on Tuesday, hitting $24.42. 11,487 shares of the company were exchanged, compared to its average volume of 21,300. MetroCity Bankshares has a 12 month low of $13.10 and a 12 month high of $26.23. The company has a market cap of $615.63 million, a PE ratio of 12.40 and a beta of 0.57. The stock has a fifty day moving average of $23.83 and a 200-day moving average of $22.84. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.85.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 23.26% and a return on equity of 13.30%. The business had revenue of $55.38 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Cahaba Wealth Management Inc. bought a new position in shares of MetroCity Bankshares in the first quarter valued at $998,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of MetroCity Bankshares by 4.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,594 shares of the company's stock valued at $327,000 after purchasing an additional 530 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc purchased a new stake in shares of MetroCity Bankshares in the fourth quarter valued at about $712,000. Finally, SG Americas Securities LLC raised its holdings in shares of MetroCity Bankshares by 19.0% in the fourth quarter. SG Americas Securities LLC now owns 10,302 shares of the company's stock valued at $247,000 after purchasing an additional 1,647 shares during the last quarter. 25.33% of the stock is owned by institutional investors.

MetroCity Bankshares Company Profile

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.