Yahoo Finance MetroCity Bankshares Third Quarter 2022 Earnings: Revenues Disappoint
MetroCity Bankshares (NASDAQ:MCBS) Third Quarter 2022 Results
Key Financial Results
Revenue: US$36.3m (up 4.5% from 3Q 2021).
Net income: US$16.9m (flat on 3Q 2021).
Profit margin: 47% (down from 49% in 3Q 2021). The decrease in margin was driven by higher expenses.
EPS: US$0.66 (up from US$0.66 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
MetroCity Bankshares Revenues Disappoint
Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 1.6% from a week ago.
Risk Analysis
Be aware that MetroCity Bankshares is showing 2 warning signs in our investment analysis and 1 of those is concerning...
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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