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

MetroCity Bankshares, Inc. (NASDAQ:MCBSGet Free Report) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 232,200 shares, a drop of 6.4% from the December 31st total of 248,200 shares. Based on an average daily trading volume, of 30,000 shares, the days-to-cover ratio is currently 7.7 days. Approximately 1.3% of the company’s shares are sold short.

MetroCity Bankshares Trading Up 0.2 %

NASDAQ:MCBS opened at $25.28 on Wednesday. MetroCity Bankshares has a one year low of $13.10 and a one year high of $26.23. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $637.21 million, a P/E ratio of 12.51 and a beta of 0.58. The firm has a 50-day simple moving average of $23.29 and a 200-day simple moving average of $21.30.

MetroCity Bankshares (NASDAQ:MCBSGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 24.44% and a return on equity of 13.94%. The business had revenue of $55.38 million during the quarter.

MetroCity Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Wednesday, January 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.18. MetroCity Bankshares’s payout ratio is presently 39.60%.

Insider Activity at MetroCity Bankshares

In related news, CEO Nack Y. Paek sold 2,763 shares of MetroCity Bankshares stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $20.11, for a total transaction of $55,563.93. Following the completion of the sale, the chief executive officer now owns 1,328,785 shares in the company, valued at approximately $26,721,866.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Nack Y. Paek sold 5,393 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $20.22, for a total value of $109,046.46. Following the completion of the sale, the chief executive officer now owns 1,331,548 shares in the company, valued at approximately $26,923,900.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nack Y. Paek sold 2,763 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $20.11, for a total transaction of $55,563.93. Following the completion of the sale, the chief executive officer now owns 1,328,785 shares of the company’s stock, valued at approximately $26,721,866.35. The disclosure for this sale can be found here. Insiders sold 22,016 shares of company stock worth $446,384 in the last 90 days. 27.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MCBS. Sherrill & Hutchins Financial Advisory Inc purchased a new stake in MetroCity Bankshares during the 4th quarter worth approximately $712,000. SG Americas Securities LLC boosted its holdings in shares of MetroCity Bankshares by 19.0% in the 4th quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock valued at $247,000 after acquiring an additional 1,647 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of MetroCity Bankshares by 53.4% in the 3rd quarter. Deutsche Bank AG now owns 9,305 shares of the company’s stock valued at $183,000 after acquiring an additional 3,240 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of MetroCity Bankshares by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 238,011 shares of the company’s stock valued at $4,684,000 after purchasing an additional 2,557 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of MetroCity Bankshares by 2.5% in the 3rd quarter. Northern Trust Corp now owns 159,905 shares of the company’s stock valued at $3,147,000 after purchasing an additional 3,949 shares during the period. Hedge funds and other institutional investors own 18.93% of the company’s stock.

MetroCity Bankshares Company Profile

(Get Free Report)

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that provides banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings accounts, and certificates of deposit. The company also provides commercial and consumer loans, including single family residential loans; construction and development, and owner and non-owner occupied commercial real estate loans; and commercial and industrial loans, residential mortgage loans, and SBA loans.

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