MetroCity Bankshares (NASDAQ:MCBS) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) saw an uptick in trading volume on Friday . 28,714 shares changed hands during 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.

Analyst Ratings Changes

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

MetroCity Bankshares Trading Down 1.3 %

The stock has a market capitalization of $689.56 million, a P/E ratio of 10.81 and a beta of 0.58. The firm’s 50 day moving average price is $30.25 and its 200 day moving average price is $31.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same quarter in the prior year, the business earned $0.65 earnings per share.

MetroCity Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Wednesday, January 29th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Wednesday, January 29th. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 36.65%.

Institutional Investors Weigh In On MetroCity Bankshares

A number of institutional investors have recently made changes to their positions in MCBS. BNP Paribas Financial Markets purchased a new stake in MetroCity Bankshares in the fourth quarter worth approximately $83,000. KLP Kapitalforvaltning AS purchased a new stake in MetroCity Bankshares in the fourth quarter worth approximately $99,000. Janus Henderson Group PLC purchased a new stake in MetroCity Bankshares in the fourth quarter worth approximately $205,000. Price T Rowe Associates Inc. MD purchased a new stake in MetroCity Bankshares in the fourth quarter worth approximately $224,000. Finally, PDT Partners LLC purchased a new position in shares of MetroCity Bankshares during the 3rd quarter worth $228,000. 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.