Short Interest in MetroCity Bankshares, Inc. (NASDAQ:MCBS) Increases By 24.4%

MetroCity Bankshares, Inc. (NASDAQ:MCBS) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 137,700 shares, an increase of 24.4% from the March 15th total of 110,700 shares. Based on an average daily volume of 38,500 shares, the days-to-cover ratio is currently 3.6 days. Currently, 0.8% of the shares of the company are short sold.

Institutional Trading of MetroCity Bankshares

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of MetroCity Bankshares by 2.9% during the 3rd quarter. State Street Corp now owns 429,312 shares of the company’s stock valued at $13,146,000 after purchasing an additional 11,900 shares during the last quarter. Barclays PLC boosted its stake in shares of MetroCity Bankshares by 345.5% during the 3rd quarter. Barclays PLC now owns 28,341 shares of the company’s stock worth $868,000 after acquiring an additional 21,979 shares during the last quarter. Franklin Resources Inc. grew its position in shares of MetroCity Bankshares by 15.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock valued at $358,000 after acquiring an additional 1,557 shares during the period. Geode Capital Management LLC increased its stake in shares of MetroCity Bankshares by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 424,739 shares of the company’s stock worth $13,009,000 after purchasing an additional 6,341 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in MetroCity Bankshares by 119.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,158 shares of the company’s stock worth $1,321,000 after purchasing an additional 23,515 shares during the period. Hedge funds and other institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Stock Performance

NASDAQ MCBS traded up $0.52 during trading hours on Monday, hitting $27.51. The company’s stock had a trading volume of 49,315 shares, compared to its average volume of 39,767. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $698.84 million, a P/E ratio of 10.96 and a beta of 0.51. The company’s 50 day simple moving average is $28.09 and its two-hundred day simple moving average is $30.75. MetroCity Bankshares has a 12 month low of $22.25 and a 12 month high of $36.15.

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

MetroCity Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Wednesday, April 30th will be paid 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 (DPR) 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.