MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) Director Ajit A. Patel sold 5,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $33.10, for a total value of $165,500.00. Following the transaction, the director now owns 645,739 shares in the company, valued at $21,373,960.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
MetroCity Bankshares Stock Up 2.7 %
NASDAQ MCBS opened at $34.03 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. The company has a market cap of $861.98 million, a price-to-earnings ratio of 14.67 and a beta of 0.60. The company has a 50 day moving average of $30.33 and a 200-day moving average of $27.78. MetroCity Bankshares, Inc. has a 1-year low of $19.85 and a 1-year high of $34.62.
MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The company reported $0.65 earnings per share 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 return on equity of 15.09% and a net margin of 25.54%.
MetroCity Bankshares Increases Dividend
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The company also recently disclosed 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 represents a $0.92 dividend on an annualized basis and a yield of 2.70%. This is an increase from MetroCity Bankshares's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, October 30th. MetroCity Bankshares's dividend payout ratio is presently 39.66%.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods raised their price target on shares of MetroCity Bankshares from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd.
View Our Latest Research Report on MCBS
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in MCBS. Dimensional Fund Advisors LP raised its holdings in shares of MetroCity Bankshares by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company's stock worth $9,612,000 after buying an additional 15,796 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of MetroCity Bankshares in the second quarter worth about $377,000. Vanguard Group Inc. boosted its stake 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 purchasing an additional 14,868 shares in the last quarter. Inspire Investing LLC acquired a new position in MetroCity Bankshares during the 1st quarter worth approximately $361,000. Finally, Creative Planning bought a new position in MetroCity Bankshares in the 3rd quarter valued at approximately $331,000. 25.33% of the stock is owned by institutional investors.
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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