Metrocity Bankshares Inc reports results for the quarter ended in June - Earnings Summary

MetroCity Bankshares

19/07/2024 17:11

* Metrocity Bankshares Inc  MCBS.OQ  reported quarterly
adjusted
earnings of 66 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 51 cents.  The lone analyst forecast for the
quarter was for earnings of 59 cents per share. 
    * Revenue rose 22% to $36.27 million from a year ago;
analysts
expected $34.10 million. 
    * Metrocity Bankshares Inc's reported EPS for the quarter
was 66
cents​.
    * The company reported quarterly net income of $16.94
million.
    * Metrocity Bankshares Inc shares had risen by 8.8% this
quarter and gained 19.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Metrocity
Bankshares Inc is $28.00 
This summary was machine generated from LSEG data July 19 at
04:11 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.59           0.66           Beat
 Mar. 31 2024      0.53           0.57           Beat
 Dec. 31 2023      0.48           0.44           Missed
 Sep. 30 2023      0.50           0.45           Missed