MetroCity Bankshares (NASDAQ:MCBS) Sees Strong Trading Volume - What's Next?

Key Points

• MetroCity Bankshares experienced a significant increase in trading volume, with 30,699 shares traded—a 14% rise from the previous session.
• The company reported earnings of $0.65 per share for the last quarter, surpassing estimates, and announced a dividend increase to $0.25 per share, reflecting a 3.4% yield.
• Recent activity from institutional investors indicates growing interest, as they now own 25.33% of the company's shares, with several significant acquisitions over the past quarters.

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) saw strong trading volume on Thursday . 30,699 shares were traded during mid-day trading, an increase of 14% from the previous session's volume of 26,834 shares.The stock last traded at $29.14 and had previously closed at $29.23.

MetroCity Bankshares Stock Up 0.0%

The company's 50 day simple moving average is $29.11 and its 200-day simple moving average is $28.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a market capitalization of $742.32 million, a PE ratio of 11.35 and a beta of 0.67.

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

MetroCity Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 30th were given a dividend of $0.25 per share. This is an increase from MetroCity Bankshares's previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, July 30th. This represents a $1.00 annualized dividend and a dividend yield of 3.4%. MetroCity Bankshares's dividend payout ratio is 39.06%.

Institutional Investors Weigh In On MetroCity Bankshares

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in MetroCity Bankshares during the fourth quarter worth about $83,000. Tower Research Capital LLC TRC raised its holdings in shares of MetroCity Bankshares by 69.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,608 shares of the company's stock valued at $103,000 after purchasing an additional 1,476 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of MetroCity Bankshares by 3,756.7% during the first quarter. GAMMA Investing LLC now owns 6,865 shares of the company's stock valued at $189,000 after purchasing an additional 6,687 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in MetroCity Bankshares during the fourth quarter valued at approximately $205,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in MetroCity Bankshares during the fourth quarter valued at approximately $224,000. Institutional investors own 25.33% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.