MetroCity Bankshares, Inc. (NASDAQ:MCBS) Short Interest Down 17.0% in January

MetroCity Bankshares, Inc. (NASDAQ:MCBS) was the target of a large decrease in short interest in January. As of January 30th, there was short interest totaling 231,377 shares, a decrease of 17.0% from the January 15th total of 278,721 shares. Based on an average daily volume of 67,069 shares, the short-interest ratio is presently 3.4 days. Currently, 1.3% of the shares of the company are sold short. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 67,069 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of MetroCity Bankshares from $33.00 to $31.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of MetroCity Bankshares in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, MetroCity Bankshares has an average rating of “Hold” and an average target price of $31.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in MetroCity Bankshares by 78.8% in the third quarter. CWM LLC now owns 955 shares of the company’s stock worth $26,000 after acquiring an additional 421 shares in the last quarter. State of Alaska Department of Revenue bought a new position in MetroCity Bankshares during the third quarter valued at about $28,000. Russell Investments Group Ltd. bought a new position in MetroCity Bankshares in the third quarter worth $45,000. BNP Paribas Financial Markets raised its position in MetroCity Bankshares by 21.5% in the second quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock worth $87,000 after purchasing an additional 540 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of MetroCity Bankshares in the 4th quarter valued at $99,000. 25.33% of the stock is owned by hedge funds and other institutional investors.

MetroCity Bankshares Trading Up 0.6%

Shares of MCBS stock traded up $0.17 on Monday, reaching $29.05. 46,414 shares of the stock were exchanged, compared to its average volume of 67,350. The company has a quick ratio of 1.18, a current ratio of 1.27 and a debt-to-equity ratio of 0.95. The stock has a market cap of $740.19 million, a P/E ratio of 11.05 and a beta of 0.72. The firm has a 50 day moving average of $27.86 and a two-hundred day moving average of $27.63. MetroCity Bankshares has a 1-year low of $24.24 and a 1-year high of $32.12.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings data on Friday, January 30th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.05). The business had revenue of $43.74 million during the quarter, compared to analyst estimates of $44.50 million. MetroCity Bankshares had a return on equity of 15.73% and a net margin of 27.93%.

MetroCity Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, February 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, February 4th. MetroCity Bankshares’s payout ratio is currently 38.02%.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.

MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.