MetroCity Bankshares (NASDAQ:MCBS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) saw an uptick in trading volume on Friday . 28,714 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 35,296 shares.The stock last traded at $26.96 and had previously closed at $27.49.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on MetroCity Bankshares from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

MetroCity Bankshares Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The firm has a market cap of $690.96 million, a P/E ratio of 10.84 and a beta of 0.58. The business has a fifty day moving average of $30.20 and a 200 day moving average of $31.28.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Tuesday, January 21st. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. During the same quarter in the previous year, the company earned $0.65 earnings per share.

MetroCity Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, January 29th. MetroCity Bankshares’s dividend payout ratio is presently 36.65%.

Institutional Investors Weigh In On MetroCity Bankshares

A number of institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MetroCity Bankshares by 10.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,434 shares of the company’s stock worth $908,000 after acquiring an additional 2,742 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of MetroCity Bankshares by 7.7% during the fourth quarter. Two Sigma Advisers LP now owns 14,000 shares of the company’s stock worth $447,000 after acquiring an additional 1,000 shares during the period. Nuveen Asset Management LLC raised its position in shares of MetroCity Bankshares by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 68,503 shares of the company’s stock valued at $2,189,000 after buying an additional 3,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MetroCity Bankshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,501 shares of the company’s stock valued at $336,000 after buying an additional 364 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of MetroCity Bankshares by 42.5% in the fourth quarter. Lazard Asset Management LLC now owns 8,621 shares of the company’s stock valued at $275,000 after buying an additional 2,572 shares in the last quarter. Institutional investors own 25.33% of the company’s stock.

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.