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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 1,868 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.55, for a total transaction of $66,407.40. Following the transaction, the president now owns 922,020 shares of the company’s stock, valued at approximately $32,777,811. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Down 1.7 %

Shares of MetroCity Bankshares stock opened at $34.22 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a 12-month low of $19.85 and a 12-month high of $35.79. The firm has a market capitalization of $866.79 million, a price-to-earnings ratio of 14.75 and a beta of 0.60. The firm’s 50 day simple moving average is $30.67 and its two-hundred day simple moving average is $28.10.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter.

MetroCity Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.23 per share. This is a positive change from MetroCity Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.69%. MetroCity Bankshares’s dividend payout ratio is presently 39.66%.

Analyst Upgrades and Downgrades

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

Institutional Trading of MetroCity Bankshares

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of MetroCity Bankshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 981,024 shares of the company’s stock valued at $24,486,000 after acquiring an additional 14,868 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MetroCity Bankshares by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock valued at $9,612,000 after acquiring an additional 15,796 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MetroCity Bankshares by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 147,745 shares of the company’s stock valued at $4,524,000 after acquiring an additional 2,745 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MetroCity Bankshares by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock valued at $3,252,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of MetroCity Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock valued at $1,113,000 after acquiring an additional 3,325 shares during the last quarter. 25.33% of the stock is owned by hedge funds and other 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.