MetroCity Bankshares, Inc. (NASDAQ:MCBS – Get Rating) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 261,900 shares, an increase of 26.1% from the November 30th total of 207,700 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 39,700 shares, the days-to-cover ratio is presently 6.6 days.
MetroCity Bankshares Stock Down 1.1 %
MCBS traded down $0.24 during trading on Friday, reaching $21.63. The stock had a trading volume of 27,562 shares, compared to its average volume of 35,552. The stock’s 50 day moving average is $22.03 and its two-hundred day moving average is $21.02. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $547.46 million, a price-to-earnings ratio of 7.92 and a beta of 0.60. MetroCity Bankshares has a one year low of $18.61 and a one year high of $29.26.
MetroCity Bankshares (NASDAQ:MCBS – Get Rating) last posted its quarterly earnings data on Friday, October 21st. The company reported $0.66 earnings per share (EPS) for the quarter. The business had revenue of $34.89 million during the quarter. MetroCity Bankshares had a return on equity of 21.96% and a net margin of 43.93%.
MetroCity Bankshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Wednesday, November 2nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 2.77%. MetroCity Bankshares’s payout ratio is presently 21.98%.
Hedge Funds Weigh In On MetroCity Bankshares
Several institutional investors and hedge funds have recently modified their holdings of MCBS. First Trust Advisors LP increased its holdings in shares of MetroCity Bankshares by 435.8% during the third quarter. First Trust Advisors LP now owns 57,865 shares of the company’s stock valued at $1,136,000 after acquiring an additional 47,065 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of MetroCity Bankshares by 428.3% during the second quarter. Goldman Sachs Group Inc. now owns 54,937 shares of the company’s stock valued at $1,116,000 after acquiring an additional 44,538 shares in the last quarter. Millennium Management LLC increased its holdings in shares of MetroCity Bankshares by 276.1% during the second quarter. Millennium Management LLC now owns 59,420 shares of the company’s stock valued at $1,207,000 after acquiring an additional 43,622 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MetroCity Bankshares by 27.5% during the third quarter. Dimensional Fund Advisors LP now owns 186,118 shares of the company’s stock valued at $3,656,000 after acquiring an additional 40,087 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of MetroCity Bankshares by 2.3% during the third quarter. Vanguard Group Inc. now owns 920,930 shares of the company’s stock valued at $18,087,000 after acquiring an additional 20,330 shares in the last quarter. 16.71% of the stock is currently owned by institutional investors.
About MetroCity Bankshares
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MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that provides banking products and services in the United States. It provides consumer and commercial checking accounts, savings accounts, certificates of deposits, money transfers, and other banking services. The company also offers construction and development, commercial real estate, commercial and industrial, single family residential mortgage, small business administration, and other consumer loans; and online banking, treasury management, wire transfer, automated clearing house, and cash management services.
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