MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) President Farid Tan sold 21,000 shares of MetroCity Bankshares stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $33.81, for a total transaction of $710,010.00. Following the transaction, the president now directly owns 923,888 shares in the company, valued at approximately $31,236,653.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
MetroCity Bankshares Price Performance
Shares of NASDAQ MCBS opened at $33.13 on Friday. The company has a fifty day moving average price of $30.28 and a 200 day moving average price of $27.75. MetroCity Bankshares, Inc. has a 1-year low of $19.85 and a 1-year high of $34.62. The firm has a market cap of $839.25 million, a PE ratio of 14.28 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 - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $60.45 million during the quarter. MetroCity Bankshares had a net margin of 25.54% and a return on equity of 15.09%.
MetroCity Bankshares Increases Dividend
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The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, October 30th. This is a boost from MetroCity Bankshares's previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a yield of 2.78%. MetroCity Bankshares's payout ratio is 39.66%.
Institutional Trading of MetroCity Bankshares
Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of MetroCity Bankshares in the 3rd quarter valued at about $212,000. GSA Capital Partners LLP acquired a new stake in MetroCity Bankshares in the 3rd quarter valued at about $251,000. Creative Planning bought a new position in MetroCity Bankshares during the third quarter worth about $331,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in MetroCity Bankshares by 3.5% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,066 shares of the company's stock worth $351,000 after buying an additional 472 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in MetroCity Bankshares in the first quarter valued at approximately $361,000. Institutional investors and hedge funds own 25.33% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods raised their price target on MetroCity Bankshares from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd.
Check Out Our Latest Report on MetroCity Bankshares
About MetroCity Bankshares
(
Get Free Report)
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.
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