MetroCity Bankshares (NASDAQ:MCBS) Declares net income of $9.5 million

MetroCity Bankshares (NASDAQ:MCBS) spotted trading -18.70% off 52-week high price. On the other end, the stock has been noted 80.99% away from the low price over the last 52-weeks. The stock changed 2.94% to recent value of $15.04. The stock transacted 37891 shares during most recent day however it has an average volume of 30.83K shares. The company has 25.67M of outstanding shares and 16.83M shares were floated in the market.

On Jan. 22, 2021, MetroCity Bankshares (NASDAQ:MCBS) released net income of $9.5 million, or $0.37 per diluted share, for the fourth quarter of 2020, compared to $9.4 million, or $0.36 per diluted share, for the third quarter of 2020, and $10.7 million, or $0.42 per diluted share, for the fourth quarter of 2019. For the year ended December 31, 2020, the Company reported net income of $36.4 million, or $1.41 per diluted share, compared to $44.7 million, or $1.81 per diluted share, for the year ended December 31, 2019.

Fourth Quarter 2020 Highlights:

  • Annualized return on average assets was 2.14%, compared to 2.20% for the third quarter of 2020 and 2.57% for the fourth quarter of 2019.
  • Annualized return on average equity was 15.78%, compared to 16.22% for the third quarter of 2020 and 20.40% for the fourth quarter of 2019.
  • Efficiency ratio of 45.1%, compared to 42.5% for the third quarter of 2020 and 40.5% for the fourth quarter of 2019.
  • Total assets increased by $156.3 million, or 9.0%, to $1.90 billion from the previous quarter.
  • Total loans increased by $170.4 million, or 11.7%, to $1.63 billion from the previous quarter.
  • Total deposits increased by $142.1 million, or 10.6%, to $1.48 billion from the previous quarter.
  • Net interest margin increased to 4.46%, compared to 3.97% for the third quarter of 2020 and 3.82% for the fourth quarter of 2019.

Its earnings per share (EPS) expected to touch remained 7.20% for this year. MCBS has an operating margin of 80.00% while its profit margin remained 51.80% for the last 12 months.

The price moved ahead of 2.57% from the mean of 20 days, 3.86% from mean of 50 days SMA and performed 13.78% from mean of 200 days price. Company’s performance for the week was -0.20%, 4.59% for month and YTD performance remained 4.30%.

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