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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 1,868 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.55, for a total transaction of $66,407.40. Following the completion of the transaction, the president now directly owns 922,020 shares of the company’s stock, valued at $32,777,811. This trade represents a 0.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 13th, Farid Tan sold 749 shares of MetroCity Bankshares stock. The stock was sold at an average price of $35.56, for a total value of $26,634.44.
• On Wednesday, November 6th, Farid Tan sold 21,000 shares of MetroCity Bankshares stock. The shares were sold at an average price of $33.81, for a total transaction of $710,010.00.

MetroCity Bankshares Price Performance

Shares of NASDAQ MCBS opened at $34.06 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $30.67 and a 200-day moving average of $28.10. The stock has a market capitalization of $862.81 million, a price-to-earnings ratio of 14.68 and a beta of 0.60. MetroCity Bankshares, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $35.79.

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

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. 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 presently 39.66%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their target price on MetroCity Bankshares from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd.

Hedge Funds Weigh In On MetroCity Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of MCBS. SG Americas Securities LLC bought a new stake in MetroCity Bankshares in the third quarter valued at approximately $212,000. PDT Partners LLC bought a new stake in shares of MetroCity Bankshares in the third quarter valued at approximately $228,000. GSA Capital Partners LLP bought a new stake in MetroCity Bankshares during the third quarter worth about $251,000. Creative Planning bought a new position in MetroCity Bankshares in the third quarter valued at approximately $331,000. Finally, Inspire Investing LLC bought a new stake in shares of MetroCity Bankshares during the 1st quarter worth $361,000. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Company Profile

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.