MetroCity Bankshares Q1 EPS $0.57 Beats $0.53 Estimate
Portfolio Pulse from Benzinga Newsdesk
MetroCity Bankshares (NASDAQ:MCBS) reported Q1 earnings of $0.57 per share, surpassing the consensus estimate of $0.53 by 7.55%. However, this represents an 8.06% decrease from the $0.62 per share earned in the same period last year.
April 19, 2024 | 1:02 pm
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MetroCity Bankshares reported a Q1 EPS of $0.57, beating estimates but showing a year-over-year decline.
Beating earnings estimates typically has a positive short-term impact on a company's stock price as it indicates better-than-expected financial health. However, the year-over-year decline might temper investor enthusiasm, suggesting a cautious optimism.
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