MetroCity Bankshares (MCBS) to Release Quarterly Earnings on Tuesday

MetroCity Bankshares (NASDAQ:MCBS) will likely be announcing its earnings results before the market opens on Tuesday, January 21st. Analysts expect the company to announce earnings of $0.61 per share and revenue of $35,300.00 billion for the quarter.

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

MetroCity Bankshares Trading Up 0.5 %

Shares of MCBS stock opened at $31.74 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The firm has a market cap of $803.97 million, a P/E ratio of 13.68 and a beta of 0.64. The business has a 50-day moving average price of $33.19 and a two-hundred day moving average price of $30.80. MetroCity Bankshares has a 12-month low of $21.89 and a 12-month high of $36.15.

MetroCity Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Wednesday, January 29th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.90%. MetroCity Bankshares’s dividend payout ratio (DPR) is 39.66%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Ajit A. Patel sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the transaction, the director now owns 645,739 shares in the company, valued at $21,373,960.90. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Farid Tan sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $33.81, for a total transaction of $710,010.00. Following the completion of the sale, the president now directly owns 923,888 shares of the company’s stock, valued at approximately $31,236,653.28. This represents a 2.22 % 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 in the last ninety days. Company insiders own 27.49% 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.