Insider Selling: MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Sells 749 Shares of Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 749 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $35.56, for a total value of $26,634.44. Following the transaction, the president now owns 920,871 shares of the company’s stock, valued at approximately $32,746,172.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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 transaction of $710,010.00.

MetroCity Bankshares Stock Performance

NASDAQ MCBS traded down $0.14 during trading on Thursday, reaching $34.08. The company’s stock had a trading volume of 5,364 shares, compared to its average volume of 33,440. MetroCity Bankshares, Inc. has a 12 month low of $19.85 and a 12 month high of $35.79. The firm has a 50 day moving average price of $30.67 and a 200 day moving average price of $28.10. The firm has a market capitalization of $863.25 million, a price-to-earnings ratio of 14.75 and a beta of 0.60. 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 (NASDAQ:MCBS) last announced its quarterly earnings data on Friday, October 18th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $60.45 million during the quarter. MetroCity Bankshares had a return on equity of 14.97% and a net margin of 25.54%.

MetroCity Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from MetroCity Bankshares’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, October 30th. MetroCity Bankshares’s dividend payout ratio is presently 39.66%.

Institutional Investors Weigh In On MetroCity Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in MetroCity Bankshares during the 3rd quarter worth $212,000. GSA Capital Partners LLP bought a new stake in MetroCity Bankshares in the 3rd quarter valued at about $251,000. Creative Planning bought a new stake in shares of MetroCity Bankshares during the third quarter valued at approximately $331,000. Inspire Investing LLC acquired a new stake in MetroCity Bankshares in the 1st quarter valued at $361,000. Finally, Sanctuary Advisors LLC acquired a new position in MetroCity Bankshares during the second quarter worth $377,000. Institutional investors own 25.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective 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.