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

MetroCity Bankshares

19/04/2024 21:45

* Metrocity Bankshares Inc  MCBS.OQ  reported quarterly
adjusted
earnings of 57 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 62 cents.  The lone analyst forecast for the quarter was
for earnings of 53 cents per share. 
    * Revenue rose 1.3% to $32.65 million from a year ago;
analysts
expected $31.40 million. 
    * Metrocity Bankshares Inc's reported EPS for the quarter
was 57
cents​.
    * The company reported quarterly net income of $14.63
million.
    * Metrocity Bankshares Inc shares had fallen by 9.3% this
quarter and lost 5.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 18.3%
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 $27.00 
This summary was machine generated from LSEG data April 19 at
08:45 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
 Mar. 31 2024      0.53           0.57           Beat
 Dec. 31 2023      0.48           0.44           Missed
 Sep. 30 2023      0.50           0.45           Missed
 Jun. 30 2023      0.50           0.51           Beat