MetroCity Bankshares (MCBS) to Release Earnings on Tuesday

MetroCity Bankshares (NASDAQ:MCBS) is projected to release its earnings data before the market opens on Tuesday, January 21st. Analysts expect MetroCity Bankshares to post earnings of $0.61 per share and revenue of $35,300.00 billion for the quarter.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $60.45 million for the quarter. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%.

MetroCity Bankshares Stock Performance

MCBS stock traded up $0.74 during trading hours on Wednesday, hitting $31.98. 33,267 shares of the stock were exchanged, compared to its average volume of 43,174. The company has a 50-day simple moving average of $33.32 and a two-hundred day simple moving average of $30.74. The firm has a market capitalization of $810.12 million, a P/E ratio of 13.78 and a beta of 0.64. MetroCity Bankshares has a 12 month low of $21.89 and a 12 month high of $36.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Wednesday, January 29th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.88%. MetroCity Bankshares’s dividend payout ratio is 39.66%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Ajit A. Patel sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the sale, the director now owns 645,739 shares of the company’s stock, valued at $21,373,960.90. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Farid Tan sold 5,983 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $35.64, for a total transaction of $213,234.12. Following the sale, the president now owns 914,888 shares in the company, valued at $32,606,608.32. The trade was a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,600 shares of company stock valued at $1,181,786 over the last 90 days. 27.49% of the stock is owned by corporate insiders.

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.