Farid Tan Sells 749 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 749 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $35.56, for a total transaction of $26,634.44. Following the completion of the transaction, the president now directly owns 920,871 shares in the company, valued at $32,746,172.76. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $710,010.00.

MetroCity Bankshares Price Performance

Shares of MCBS stock opened at $33.91 on Friday. The firm’s 50-day moving average is $30.85 and its two-hundred day moving average is $28.21. MetroCity Bankshares, Inc. has a 12 month low of $19.85 and a 12 month high of $35.79. 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 company has a market capitalization of $859.01 million, a PE ratio of 14.62 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings results on Friday, October 18th. The company reported $0.65 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 net margin of 25.54% and a return on equity of 14.97%.

MetroCity Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.71%. MetroCity Bankshares’s dividend payout ratio is currently 39.66%.

Institutional Trading of MetroCity Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in MetroCity Bankshares during the third quarter worth about $212,000. PDT Partners LLC acquired a new position in MetroCity Bankshares during the third quarter worth $228,000. GSA Capital Partners LLP purchased a new position in shares of MetroCity Bankshares during the third quarter worth $251,000. Creative Planning acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at $331,000. Finally, Inspire Investing LLC purchased a new stake in shares of MetroCity Bankshares in the 1st quarter valued at $361,000. 25.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price target on 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.