MetroCity Bankshares (NASDAQ:MCBS) Sees Strong Trading Volume - Time to Buy?

Key Points

• MetroCity Bankshares saw a significant trading volume with approximately 31,638 shares traded recently, despite a slight decline from the previous session.
• The company reported a quarterly earnings per share of $0.65, surpassing analysts' estimates, with a revenue of $37.91 million for the quarter.
• MetroCity Bankshares declared an increase in its quarterly dividend to $0.25 per share, reflecting a 3.5% dividend yield and a payout ratio of 39.06%.

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 31,638 shares traded hands during trading, a decline of 3% from the previous session's volume of 32,646 shares.The stock last traded at $29.32 and had previously closed at $29.01.

MetroCity Bankshares Stock Down 1.1%

The company has a market capitalization of $735.30 million, a P/E ratio of 11.25 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average price of $29.00 and a 200 day moving average price of $28.26.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. MetroCity Bankshares had a return on equity of 15.61% and a net margin of 27.98%.The business had revenue of $37.91 million for the quarter, compared to analyst estimates of $36.10 million.

MetroCity Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from MetroCity Bankshares's previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, July 30th. MetroCity Bankshares's dividend payout ratio (DPR) is presently 39.06%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in MetroCity Bankshares in the 4th quarter valued at $83,000. Tower Research Capital LLC TRC grew its position in MetroCity Bankshares by 69.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,608 shares of the company's stock worth $103,000 after purchasing an additional 1,476 shares in the last quarter. GAMMA Investing LLC increased its stake in MetroCity Bankshares by 3,756.7% in the 1st quarter. GAMMA Investing LLC now owns 6,865 shares of the company's stock valued at $189,000 after buying an additional 6,687 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in MetroCity Bankshares in the 4th quarter valued at about $205,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MetroCity Bankshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company's stock worth $302,000 after buying an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 25.33% of the company's stock.

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.

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