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

MetroCity Bankshares (NASDAQ:MCBS) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $27.00 to $28.00 in a research report issued to clients and investors 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 15.08% from the stock’s previous close.

MetroCity Bankshares Trading Down 0.4 %

Shares of MCBS stock opened at $24.33 on Tuesday. The business’s fifty day moving average price is $23.84 and its 200 day moving average price is $22.85. MetroCity Bankshares has a 1-year low of $13.10 and a 1-year high of $26.23. The firm has a market capitalization of $613.36 million, a PE ratio of 12.35 and a beta of 0.57. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.20.

MetroCity Bankshares (NASDAQ:MCBS) last announced 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 return on equity of 13.30% and a net margin of 23.26%. The business had revenue of $55.38 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cahaba Wealth Management Inc. purchased 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 increased its position 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 buying an additional 530 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc purchased a new position in shares of MetroCity Bankshares in the fourth quarter valued at $712,000. Finally, SG Americas Securities LLC increased its position 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 buying an additional 1,647 shares in the last quarter. Hedge funds and other institutional investors own 25.33% of the company’s stock.

About MetroCity Bankshares

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.