Recap: MetroCity Bankshares Q4 Earnings
Portfolio Pulse from Benzinga Insights
MetroCity Bankshares (NASDAQ:MCBS) reported Q4 earnings with an EPS of $0.44, missing estimates by 8.33% against the expected $0.48. Revenue increased by $99 thousand compared to the same period last year. The company's share price dropped by 0.76% the day after missing EPS estimates last quarter.
January 23, 2024 | 2:45 pm
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NEGATIVE IMPACT
MetroCity Bankshares reported lower-than-expected Q4 earnings with an EPS of $0.44, missing the estimate by 8.33%. Revenue increased slightly from the previous year.
Historically, stocks tend to react negatively to earnings misses. Given that MCBS missed EPS estimates and experienced a share price drop after a similar miss last quarter, it is likely to face a short-term negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100