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MetroCity Bankshares Q2 Profit Rises 29%
(RTTNews) - MetroCity Bankshares, Inc. (MCBS), holding company for Metro City Bank, reported Friday that net income for the second quarter grew to $16.94 million or $0.66 per share from $13.11 million or $0.51 per share in the prior-year quarter.
Net interest income increased to $30.71 million from $24.97 million a year ago, and noninterest income grew to $5.56 million from $4.69 million last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share on revenues of $34.1 million for the quarter. Analysts' estimates typically exclude special items.
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MetroCity Bankshares Q3 Profit Declines
MetroCity Bankshares, Inc. (MCBS), holding company for Metro City Bank, reported Friday that net income for the third quarter declined to $11.43 million or $0.45 per share from $16.89 million or $0.66 per share in the prior-year quarter.
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European Shares Drift Lower With Trump's Tax Bill In Focus
European stocks fell from nine-week highs on Wednesday as investors fretted about the lack of progress on trade deal and closely monitored discussions on the U.S. budget bill and federal deficit.
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Asian Shares Rise In Cautious Trade; Nikkei Drops On Yen Strength
Asian stocks ended mostly higher on Wednesday, with Japanese markets underperforming as the yen continued to strengthen on BoJ rate hike bets and data showed Japan's export growth continued to decelerate for the second consecutive month.
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U.S. Dollar Falls Amid Risk-on Mood, Fed Rate Cut Bet
The U.S. dollar weakened against other major currencies in the Asian session on Wednesday amid increased risk-on mood, as some traders are still looking to cash in on the strong upside in the markets seen over the past several weeks. Furthermore, growing market acceptance that the Federal Reserve (Fed) will lower interest rates further this year amid evidence of diminishing inflationary pressure and a dismal growth forecast, also pushed the USD lower.
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Japan Exports Growth Softens On Higher Trade Tariffs
Japan's exports grew at a slower pace in April largely due to the higher tariffs imposed by the US administration, official data revealed Wednesday. Exports climbed 2.0 percent on a yearly basis in April, slower than the 4.0 percent increase in March, the Ministry of Finance reported. Exports have been rising since last September and the latest growth matched economists' expectations.
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European Shares May Struggle At Open
European stocks are seen opening little changed on Wednesday, with U.S. fiscal concerns, geopolitical tensions and the Fed outlook likely to be in focus.
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European Economic News Preview: UK Inflation Data Due
Consumer price data from the UK is the only major report due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK consumer prices for April. Consumer price inflation is forecast to rise to 3.3 percent from 2.6 percent in March.
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hace 4h 41min
Swiss Franc Rises Against Majors
The Swiss franc strengthened against other major currencies in the Asian session on Wednesday.
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