Keefe, Bruyette & Woods Increases MetroCity Bankshares (NASDAQ:MCBS) Price Target to $32.00

MetroCity Bankshares (NASDAQ:MCBS) had its price target upped by analysts at Keefe, Bruyette & Woods from $31.00 to $32.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 11.93% from the company’s current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings upgraded MetroCity Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded MetroCity Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

MetroCity Bankshares Price Performance

MCBS stock opened at $28.59 on Monday. The company has a 50 day simple moving average of $28.44 and a 200 day simple moving average of $27.57. The stock has a market cap of $821.96 million, a price-to-earnings ratio of 10.87 and a beta of 0.72. MetroCity Bankshares has a 1 year low of $24.24 and a 1 year high of $31.06. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21.

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

Hedge Funds Weigh In On MetroCity Bankshares

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of MetroCity Bankshares by 13.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,640 shares of the company’s stock worth $309,000 after purchasing an additional 1,373 shares during the period. Mariner LLC raised its position in MetroCity Bankshares by 11.4% during the 4th quarter. Mariner LLC now owns 14,755 shares of the company’s stock worth $392,000 after purchasing an additional 1,511 shares during the last quarter. Barclays PLC raised its position in MetroCity Bankshares by 19.0% during the 4th quarter. Barclays PLC now owns 38,710 shares of the company’s stock worth $1,027,000 after purchasing an additional 6,194 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in MetroCity Bankshares by 716.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 6,464 shares of the company’s stock worth $171,000 after buying an additional 5,672 shares during the period. Finally, State Street Corp lifted its holdings in MetroCity Bankshares by 1.3% during the 4th quarter. State Street Corp now owns 445,316 shares of the company’s stock worth $11,819,000 after buying an additional 5,543 shares during the period. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Company Profile

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.