MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan Sells 5,983 Shares of Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 5,983 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $35.64, for a total value of $213,234.12. Following the completion of the transaction, the president now directly owns 914,888 shares of the company’s stock, valued at approximately $32,606,608.32. This represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 Monday, November 11th, Farid Tan sold 1,868 shares of MetroCity Bankshares stock. The shares were sold at an average price of $35.55, for a total value of $66,407.40.
• 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 Trading Up 0.3 %

NASDAQ:MCBS opened at $34.41 on Thursday. MetroCity Bankshares, Inc. has a 12 month low of $19.85 and a 12 month high of $36.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The firm’s 50 day moving average is $31.49 and its 200 day moving average is $28.78. The stock has a market capitalization of $871.67 million, a PE ratio of 14.83 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS) last issued its earnings results 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 firm had revenue of $60.45 million for the quarter. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%.

MetroCity Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, October 30th. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a yield of 2.67%. MetroCity Bankshares’s dividend payout ratio is 39.66%.

Hedge Funds Weigh In On MetroCity Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCBS. SG Americas Securities LLC purchased a new stake in shares of MetroCity Bankshares during the 3rd quarter valued at approximately $212,000. PDT Partners LLC purchased a new stake in shares of MetroCity Bankshares during the third quarter worth $228,000. GSA Capital Partners LLP purchased a new stake in shares of MetroCity Bankshares during the third quarter worth $251,000. Creative Planning bought a new position in shares of MetroCity Bankshares in the third quarter worth $331,000. Finally, Franklin Resources Inc. grew its position in shares of MetroCity Bankshares by 15.4% in the third quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock valued at $358,000 after purchasing an additional 1,557 shares in the last quarter. Institutional investors own 25.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.