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

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

MetroCity Bankshares Stock Performance

NASDAQ MCBS traded down $0.41 on Friday, hitting $27.60. 26,583 shares of the company's stock traded hands, compared to its average volume of 40,067. The firm's 50-day moving average price is $27.83 and its two-hundred day moving average price is $30.70. The firm has a market capitalization of $701.12 million, a PE ratio of 11.00 and a beta of 0.51. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares has a 1-year low of $22.25 and a 1-year high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last posted its earnings results on Friday, April 18th. The company reported $0.63 earnings per share (EPS) 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%. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.20 million.

MetroCity Bankshares Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, April 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.33%. MetroCity Bankshares's payout ratio is 35.80%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reduced their price objective on MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research note on Tuesday.

Institutional Trading of MetroCity Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in MetroCity Bankshares by 34.4% in the 4th quarter. American Century Companies Inc. now owns 309,264 shares of the company's stock worth $9,881,000 after purchasing an additional 79,080 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in MetroCity Bankshares by 81.4% during the fourth quarter. JPMorgan Chase & Co. now owns 78,276 shares of the company's stock worth $2,501,000 after buying an additional 35,118 shares in the last quarter. Axecap Investments LLC acquired a new stake in MetroCity Bankshares during the first quarter valued at $863,000. Barclays PLC increased its holdings in MetroCity Bankshares by 345.5% in the third quarter. Barclays PLC now owns 28,341 shares of the company's stock valued at $868,000 after buying an additional 21,979 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MetroCity Bankshares in the fourth quarter worth about $562,000. 25.33% of the stock is owned by institutional investors and hedge funds.

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.