MetroCity Bankshares, Inc. (NASDAQ:MCBS) Short Interest Update

MetroCity Bankshares, Inc. (NASDAQ:MCBS) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 137,700 shares, a growth of 24.4% from the March 15th total of 110,700 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 38,500 shares, the short-interest ratio is presently 3.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of MetroCity Bankshares by 2.9% in the 3rd quarter. State Street Corp now owns 429,312 shares of the company’s stock worth $13,146,000 after purchasing an additional 11,900 shares during the last quarter. Geode Capital Management LLC increased its stake in MetroCity Bankshares by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 424,739 shares of the company’s stock valued at $13,009,000 after purchasing an additional 6,341 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in MetroCity Bankshares by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company’s stock worth $12,857,000 after buying an additional 14,215 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of MetroCity Bankshares by 34.4% in the fourth quarter. American Century Companies Inc. now owns 309,264 shares of the company’s stock worth $9,881,000 after buying an additional 79,080 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of MetroCity Bankshares by 6.5% during the fourth quarter. Northern Trust Corp now owns 164,993 shares of the company’s stock valued at $5,272,000 after buying an additional 10,057 shares during the last quarter. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Stock Up 1.9 %

Shares of MCBS stock traded up $0.52 during midday trading on Monday, reaching $27.51. 49,315 shares of the stock were exchanged, compared to its average volume of 39,767. MetroCity Bankshares has a 1 year low of $22.25 and a 1 year high of $36.15. The firm has a market cap of $698.84 million, a PE ratio of 10.96 and a beta of 0.51. The company’s 50 day moving average is $28.09 and its two-hundred day moving average is $30.75. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a return on equity of 15.98% and a net margin of 27.33%. During the same period in the prior year, the business earned $0.65 earnings per share.

MetroCity Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 30th will be given a $0.23 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.34%. MetroCity Bankshares’s dividend payout ratio is currently 36.65%.

About MetroCity Bankshares

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.