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

There was a significant increase in the number of short positions taken in MetroCity Bankshares, Inc. during December (NASDAQ: MCBS). There were 207,700 shares borrowed one month before December 15, representing a 26.1% increase to the current total of 261,900 shares borrowed as of December 15. At the moment, short sales make up 1.4% of the company’s total number of outstanding shares. The current days-to-cover ratio is 6.6 days, calculated based on an average daily volume of 39,700 shares. This number was arrived at after taking into account historical data.

On Friday, October 21, the most recent quarterly earnings report for MetroCity Bankshares (NASDAQ: MCBS) was made public for the investing community to view. The business realized a profit of $0.66 per share (EPS) during the period in question. The amount in question was $34.89 million, and that is the total revenue that the company recorded during the relevant period. MetroCity Bankshares had a return on equity of 21.96% and a net margin of 43.93% for the company overall.
In addition, the business disclosed that it would be paying a quarterly dividend, which, after being validated as lawful, was done so on November 10. Shareholders whose information was already present in the company’s books before November 2 were eligible to receive $0.15 dividend payments per share. After the cutoff date of November 1, this dividend started being distributed to shareholders. Because of this, shareholders will receive a dividend payment of $0.60 each year, and the dividend yield will be 2.77%. At this moment in time, the payout ratio for MetroCity Bankshares stands at 21.98%.

The price of MCBS dropped by $0.24 during trading on Friday, bringing it to a total of $21.63 at the close of the day. The stock’s volume was significantly lower than its usual level of 35,552 shares, as only 27,562 were exchanged. The stock price has moved to an average of $22.03 over the past 50 trading days, while it has moved to $21.02 over the last 200 trading days. The debt-to-equity ratio is calculated to be 1.08, the current ratio is calculated to be 1.23, and the quick ratio is also calculated to be 1.23. The company has a price-to-earnings ratio of 7.92, a market capitalization of $547.46 million, and a beta value of 0.60. The price-to-earnings ratio measures how much a share of earnings is worth relative to the price of the share. The price of MetroCity Bankshares has ranged from a high of $29.26 per share to a low of $18.61 per share over the past year.

Recent changes have been made to the proportional holdings of MCBS, which various institutional investors and hedge funds own. First Trust Advisors LP saw a 435.8 percent increase in the size of its holdings in MetroCity Bankshares during the third quarter of the current fiscal year. First Trust Advisors LP now has a total of 57,865 shares worth a combined total of $1135,000 following the purchase of an additional 47,065 shares during the preceding quarter. Goldman Sachs Group Inc. increased the amount of MetroCity Bankshares it held by 428.3% during the second quarter of the fiscal year. Goldman Sachs Group Inc. now has a total of 54,937 shares worth a combined total of $1,116,000. This is because the company made an additional purchase of 44,538 shares during the most recent fiscal quarter. In the second quarter, Millennium Management LLC accomplished a sizeable increase of 276.1% in the MetroCity Bankshares it was holding. Millennium Management LLC has 59,420 shares of the company’s stock, which are currently worth $1,207,00. This is because, during the most recent quarter, they made an additional purchase of 43,622 shares, which caused the value of their holdings to increase. At the end of the third quarter, the percentage of MetroCity Bankshares that Dimensional Fund Advisors LP held due to acquiring additional shares had increased by 27.5%. The most recent quarter saw Dimensional Fund Advisors LP acquire an additional 40,087 shares of the company’s stock, bringing their total number of directly owned shares to 186,118, with a market value of $3,656,000. Dimensional Fund Advisors LP has 186,118 shares of the company’s stock.
Last but not least, during the third quarter, Vanguard Group Inc. increased the percentage of MetroCity Bankshares that it held by 2.3%. This certainly should not be considered the least important development. After making a new purchase of 20,330 shares during the most recent quarter, Vanguard Group Inc. now owns 920,930 shares of the company, which have a value of $18,087,000. These shares were acquired as part of the investment firm’s recent quarter. At present, institutions own 16.71% of the total shares of stock that are outstanding.

The holding company MetroCity Bankshares, Inc. is the parent organization of Metro City Bank, which has locations all over the United States and provides customers with a comprehensive selection of banking services, products, and options. Individuals and businesses can take advantage of its checking and savings accounts, certificates of deposit, money transfers, and a wide range of other banking services. Additional consumer loans are offered for a variety of purposes, in addition to online banking, Treasury management, wire transfers, automated clearing houses, and cash management services. These loans can be used for construction and development, commercial real estate, commercial and industrial loans, single-family residential mortgages, and small business administration. The online banking system provides a means of gaining access to these loan options.


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