Farid Tan Sells 502 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 502 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $32.00, for a total transaction of $16,064.00. Following the completion of the sale, the president now owns 953,889 shares of the company’s stock, valued at approximately $30,524,448. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, July 26th, Farid Tan sold 497 shares of MetroCity Bankshares stock. The shares were sold at an average price of $32.00, for a total transaction of $15,904.00.

MetroCity Bankshares Stock Performance

Shares of MCBS opened at $29.66 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.22. The stock has a market capitalization of $747.73 million, a P/E ratio of 15.06 and a beta of 0.60. The company’s fifty day moving average is $26.56 and its two-hundred day moving average is $24.92. MetroCity Bankshares, Inc. has a 1 year low of $18.81 and a 1 year high of $32.50.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings data on Friday, July 19th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $59.67 million for the quarter. MetroCity Bankshares had a net margin of 24.20% and a return on equity of 14.02%.

MetroCity Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 40.61%.

Hedge Funds Weigh In On MetroCity Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of MetroCity Bankshares by 3.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,066 shares of the company’s stock worth $351,000 after purchasing an additional 472 shares during the period. SG Americas Securities LLC grew its stake in shares of MetroCity Bankshares by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock worth $247,000 after purchasing an additional 1,647 shares during the period. Bank of New York Mellon Corp grew its stake in shares of MetroCity Bankshares by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock worth $3,252,000 after purchasing an additional 2,049 shares during the period. Empowered Funds LLC grew its stake in shares of MetroCity Bankshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock worth $1,113,000 after purchasing an additional 3,325 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of MetroCity Bankshares during the 1st quarter worth $361,000. 25.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $32.00 price objective (up from $28.00) on shares of MetroCity Bankshares in a research note on Tuesday, July 23rd.

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.