MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan Sells 1,868 Shares

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 1,868 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.55, for a total transaction of $66,407.40. Following the sale, the president now directly owns 922,020 shares in the company, valued at $32,777,811. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Farid Tan also recently made the following trade(s):

• On Wednesday, November 6th, Farid Tan sold 21,000 shares of MetroCity Bankshares stock. The stock was sold at an average price of $33.81, for a total transaction of $710,010.00.

MetroCity Bankshares Stock Performance

MCBS opened at $34.22 on Thursday. 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 company has a market cap of $866.79 million, a price-to-earnings ratio of 14.75 and a beta of 0.60. MetroCity Bankshares, Inc. has a 52-week low of $19.85 and a 52-week high of $35.79. The firm’s fifty day simple moving average is $30.67 and its two-hundred day simple moving average is $28.10.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings data on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The business had revenue of $60.45 million for the quarter. MetroCity Bankshares had a net margin of 25.54% and a return on equity of 14.97%.

MetroCity Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, October 30th. MetroCity Bankshares’s dividend payout ratio is 39.66%.

Institutional Investors Weigh In On MetroCity Bankshares

A number of hedge funds have recently modified their holdings of MCBS. SG Americas Securities LLC acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at about $212,000. GSA Capital Partners LLP acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at about $251,000. Creative Planning acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at about $331,000. Inspire Investing LLC acquired a new stake in MetroCity Bankshares during the first quarter worth about $361,000. Finally, Sanctuary Advisors LLC acquired a new stake in MetroCity Bankshares during the second quarter worth about $377,000. 25.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price target on shares of MetroCity Bankshares from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd.

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.