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

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) saw a large growth in short interest during 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. Approximately 0.8% of the shares of the stock are short sold. Based on an average trading volume of 38,500 shares, the short-interest ratio is presently 3.6 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On MetroCity Bankshares

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in MetroCity Bankshares by 2.9% in the 3rd quarter. State Street Corp now owns 429,312 shares of the company's stock worth $13,146,000 after purchasing an additional 11,900 shares during the period. Geode Capital Management LLC increased its position in shares of MetroCity Bankshares by 1.5% in the third quarter. Geode Capital Management LLC now owns 424,739 shares of the company's stock valued at $13,009,000 after acquiring an additional 6,341 shares during the period. Dimensional Fund Advisors LP increased its position in shares of MetroCity Bankshares by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 402,397 shares of the company's stock valued at $12,857,000 after acquiring an additional 14,215 shares during the period. American Century Companies Inc. increased its position in shares of MetroCity Bankshares by 34.4% in the fourth quarter. American Century Companies Inc. now owns 309,264 shares of the company's stock valued at $9,881,000 after acquiring an additional 79,080 shares during the period. Finally, Northern Trust Corp increased its position in shares of MetroCity Bankshares by 6.5% in the fourth quarter. Northern Trust Corp now owns 164,993 shares of the company's stock valued at $5,272,000 after acquiring an additional 10,057 shares during the period. Hedge funds and other institutional investors own 25.33% of the company's stock.

MetroCity Bankshares Price Performance

Shares of NASDAQ MCBS traded up $0.44 during mid-day trading on Wednesday, reaching $28.99. 2,649 shares of the company were exchanged, compared to its average volume of 39,700. MetroCity Bankshares has a 52 week low of $22.25 and a 52 week high of $36.15. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $736.43 million, a PE ratio of 11.55 and a beta of 0.51. The company's 50 day moving average price is $27.96 and its 200 day moving average price is $30.72.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last posted its quarterly earnings data on Friday, April 18th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.20 million. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%.

MetroCity Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Wednesday, April 30th. MetroCity Bankshares's payout ratio is presently 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.