MetroCity Bankshares, Inc. (NASDAQ:MCBS) Short Interest Up 24.4% in March

MetroCity Bankshares, Inc. (NASDAQ:MCBS) was the recipient 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 shares are sold short. Based on an average daily volume of 38,500 shares, the days-to-cover ratio is currently 3.6 days.

Institutional Investors Weigh In On MetroCity Bankshares

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in MetroCity Bankshares in the 4th quarter valued at approximately $83,000. KLP Kapitalforvaltning AS acquired a new stake in MetroCity Bankshares in the fourth quarter valued at approximately $99,000. GAMMA Investing LLC grew its holdings in MetroCity Bankshares by 3,756.7% during the 1st quarter. GAMMA Investing LLC now owns 6,865 shares of the company’s stock worth $189,000 after acquiring an additional 6,687 shares in the last quarter. Janus Henderson Group PLC purchased a new position in MetroCity Bankshares in the fourth quarter valued at $205,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of MetroCity Bankshares during the 4th quarter worth about $224,000. 25.33% of the stock is currently owned by institutional investors and hedge funds.

MetroCity Bankshares Trading Up 1.2 %

MCBS stock traded up $0.32 during trading on Friday, reaching $26.99. 50,673 shares of the stock were exchanged, compared to its average volume of 39,729. The business has a 50 day moving average price of $28.09 and a 200-day moving average price of $30.74. MetroCity Bankshares has a 1 year low of $22.25 and a 1 year high of $36.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $685.63 million, a price-to-earnings ratio of 10.75 and a beta of 0.51.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings data on Tuesday, January 21st. The company reported $0.63 EPS for the quarter, beating 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 previous year, the firm earned $0.65 EPS.

MetroCity Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, April 30th. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 36.65%.

MetroCity Bankshares Company Profile

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.