Several other brokerages have also recently issued reports on MCBS. Zacks Investment Research upgraded MetroCity Bankshares from a “sell” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, June 30th. ValuEngine raised MetroCity Bankshares from a “strong sell” rating to a “sell” rating in a report on Thursday, June 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $16.00.
Shares of NASDAQ MCBS opened at $13.21 on Friday. The stock’s 50 day moving average price is $13.83 and its two-hundred day moving average price is $12.39. MetroCity Bankshares has a 52-week low of $8.31 and a 52-week high of $19.07. The stock has a market capitalization of $338.38 million and a P/E ratio of 8.24. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.41.
Hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its holdings in MetroCity Bankshares by 45.7% in the 1st quarter. Citigroup Inc. now owns 4,640 shares of the company’s stock worth $54,000 after buying an additional 1,456 shares in the last quarter. Bank of America Corp DE grew its holdings in MetroCity Bankshares by 126.8% in the 2nd quarter. Bank of America Corp DE now owns 8,425 shares of the company’s stock worth $120,000 after buying an additional 4,711 shares in the last quarter. SG Americas Securities LLC bought a new position in MetroCity Bankshares in the 2nd quarter worth approximately $135,000. American International Group Inc. grew its holdings in MetroCity Bankshares by 12.6% in the 2nd quarter. American International Group Inc. now owns 10,589 shares of the company’s stock worth $152,000 after buying an additional 1,186 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in MetroCity Bankshares by 9.7% during the 1st quarter. Rhumbline Advisers now owns 14,800 shares of the company’s stock valued at $174,000 after purchasing an additional 1,310 shares in the last quarter. 13.90% of the stock is owned by institutional investors and hedge funds.
MetroCity Bankshares Company Profile
MetroCity Bankshares, Inc operates as the holding company for Metro City Bank that offers banking products and services in Georgia, The United States. The company offers checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, money transfers, and other banking services.
Read More: Price to Earnings Ratio (PE) Basics
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