Wall Street Zen Upgrades MetroCity Bankshares (NASDAQ:MCBS) to Hold

Key Points

• Analyst upgrades: Wall Street Zen raised MCBS from "sell" to "hold" and Weiss Ratings moved it from "hold (c+)" to "buy (b-)", leaving a consensus rating of Moderate Buy with a consensus price target of $31.00.
• Earnings miss: MetroCity reported Q4 EPS of $0.68 vs. $0.73 expected and revenue of $43.74M vs. $44.50M expected, while maintaining a strong net margin (27.93%) and ROE (14.82%).
• Valuation and trading range: shares opened at $27.51, the company has a market cap of about $791M and a trailing PE of 10.46, with a 1‑year range of $24.24–$31.06.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings raised shares of MetroCity Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

MetroCity Bankshares Stock Performance

NASDAQ:MCBS opened at $27.51 on Friday. The firm has a 50 day simple moving average of $28.37 and a 200-day simple moving average of $27.61. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.18. The firm has a market cap of $790.91 million, a PE ratio of 10.46 and a beta of 0.72. MetroCity Bankshares has a 1-year low of $24.24 and a 1-year high of $31.06.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $43.74 million during the quarter, compared to analyst estimates of $44.50 million. MetroCity Bankshares had a net margin of 27.93% and a return on equity of 14.82%.

Institutional Investors Weigh In On MetroCity Bankshares

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of MetroCity Bankshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company's stock worth $302,000 after buying an additional 468 shares in the last quarter. Jane Street Group LLC acquired a new stake in MetroCity Bankshares in the first quarter valued at $717,000. Geode Capital Management LLC boosted its stake in MetroCity Bankshares by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 443,930 shares of the company's stock valued at $12,690,000 after acquiring an additional 14,766 shares during the last quarter. Creative Planning bought a new position in MetroCity Bankshares during the 2nd quarter valued at $815,000. Finally, Legal & General Group Plc grew its holdings in MetroCity Bankshares by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 19,744 shares of the company's stock worth $564,000 after acquiring an additional 1,460 shares in the last quarter. 25.33% of the stock is owned by institutional investors and hedge funds.

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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