Insider Selling: MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Sells $213,234.12 in 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 trade represents a 0.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, November 13th, Farid Tan sold 749 shares of MetroCity Bankshares stock. The shares were 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 stock was sold at an average price of $35.55, for a total transaction 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 Stock Down 0.2 %

Shares of NASDAQ MCBS opened at $34.34 on Friday. The business has a fifty day moving average of $31.62 and a two-hundred day moving average of $28.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.24 and a current ratio of 1.24. MetroCity Bankshares, Inc. has a 52-week low of $19.85 and a 52-week high of $36.15. The stock has a market cap of $869.83 million, a PE ratio of 14.80 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly 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 during 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 issued a $0.23 dividend. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, October 30th. MetroCity Bankshares’s payout ratio is presently 39.66%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On MetroCity Bankshares

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in MetroCity Bankshares in the 3rd quarter valued at $212,000. PDT Partners LLC acquired a new stake in shares of MetroCity Bankshares in the third quarter valued at $228,000. GSA Capital Partners LLP acquired a new position in MetroCity Bankshares during the 3rd quarter worth about $251,000. Creative Planning acquired a new position in MetroCity Bankshares during the 3rd quarter worth about $331,000. Finally, Franklin Resources Inc. grew its holdings in MetroCity Bankshares by 15.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,680 shares of the company’s stock worth $358,000 after acquiring an additional 1,557 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors.

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.