MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) President Farid Tan sold 749 shares of MetroCity Bankshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $35.56, for a total value of $26,634.44. Following the sale, the president now owns 920,871 shares in the company, valued at $32,746,172.76. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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 transaction of $66,407.40.
- On Wednesday, November 6th, Farid Tan sold 21,000 shares of MetroCity Bankshares stock. The shares were sold at an average price of $33.81, for a total transaction of $710,010.00.
MetroCity Bankshares Stock Down 1.1 %
Shares of MCBS traded down $0.39 during trading hours on Friday, hitting $33.67. The company had a trading volume of 7,493 shares, compared to its average volume of 33,452. The stock has a market capitalization of $852.93 million, a price-to-earnings ratio of 14.67 and a beta of 0.60. The firm has a fifty day moving average price of $30.76 and a 200-day moving average price of $28.14. MetroCity Bankshares, Inc. has a 52-week low of $19.85 and a 52-week high of $35.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.24 and a current ratio of 1.24.
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MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last issued its earnings results on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter.
MetroCity Bankshares Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 30th were given a $0.23 dividend. The ex-dividend date was 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 2.73%. MetroCity Bankshares's dividend payout ratio is 39.66%.
Institutional Trading of MetroCity Bankshares
Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in MetroCity Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,610 shares of the company's stock worth $1,113,000 after buying an additional 3,325 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of MetroCity Bankshares in the first quarter worth approximately $361,000. Vanguard Group Inc. raised its holdings in shares of MetroCity Bankshares by 1.5% during the first 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MetroCity Bankshares by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company's stock valued at $3,252,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in MetroCity Bankshares by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company's stock valued at $9,612,000 after purchasing an additional 15,796 shares during the period. Institutional investors own 25.33% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods upped their price target on MetroCity Bankshares from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd.
Check Out Our Latest Analysis on MCBS
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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