MetroCity Bankshares (NASDAQ:MCBS) Sees Large Volume Increase – Time to Buy?

MetroCity Bankshares, Inc. (NASDAQ:MCBS) shares saw strong trading volume on Thursday . 28,182 shares traded hands during trading, a decline of 19% from the previous session’s volume of 34,693 shares.The stock last traded at $27.70 and had previously closed at $27.45.

Analysts Set New Price Targets

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

MetroCity Bankshares Trading Up 2.1 %

The company has a market capitalization of $703.72 million, a price-to-earnings ratio of 11.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average price of $30.56 and a 200-day moving average price of $31.38.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company posted $0.65 EPS.

MetroCity Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Wednesday, January 29th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.31%. MetroCity Bankshares’s dividend payout ratio is currently 36.65%.

Institutional Trading of MetroCity Bankshares

Several institutional investors and hedge funds have recently modified their holdings of MCBS. GSA Capital Partners LLP bought a new stake in shares of MetroCity Bankshares during the 3rd quarter worth $251,000. Charles Schwab Investment Management Inc. lifted its position in shares of MetroCity Bankshares by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock worth $4,524,000 after buying an additional 2,745 shares during the last quarter. PDT Partners LLC bought a new stake in shares of MetroCity Bankshares during the 3rd quarter worth $228,000. State Street Corp lifted its position in shares of MetroCity Bankshares by 2.9% during the 3rd quarter. State Street Corp now owns 429,312 shares of the company’s stock worth $13,146,000 after buying an additional 11,900 shares during the last quarter. Finally, Jane Street Group LLC raised its position in MetroCity Bankshares by 2.3% in the third quarter. Jane Street Group LLC now owns 16,357 shares of the company’s stock valued at $501,000 after purchasing an additional 370 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors.

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.