MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) President Farid Tan sold 5,983 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $35.64, for a total transaction of $213,234.12. Following the completion of the sale, the president now owns 914,888 shares in the company, valued at $32,606,608.32. This represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Farid Tan also recently made the following trade(s):
- On Wednesday, November 13th, Farid Tan sold 749 shares of MetroCity Bankshares stock. The stock was sold at an average price of $35.56, for a total transaction of $26,634.44.
- 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 value of $710,010.00.
MetroCity Bankshares Price Performance
MCBS stock opened at $34.41 on Thursday. The firm has a 50 day simple moving average of $31.49 and a two-hundred day simple moving average of $28.78. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $871.67 million, a PE ratio of 14.83 and a beta of 0.60. MetroCity Bankshares, Inc. has a one year low of $19.85 and a one year high of $36.15.
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MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last announced 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 company had revenue of $60.45 million during the quarter.
MetroCity Bankshares Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 30th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.67%. 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 (DPR) is currently 39.66%.
Institutional Trading of MetroCity Bankshares
A number of hedge funds have recently bought and sold shares of MCBS. Sanctuary Advisors LLC purchased a new position in shares of MetroCity Bankshares during the second quarter worth approximately $377,000. Creative Planning purchased a new stake in shares of MetroCity Bankshares in the 3rd quarter valued at $331,000. SG Americas Securities LLC bought a new position in shares of MetroCity Bankshares during the 3rd quarter valued at $212,000. GSA Capital Partners LLP purchased a new position in MetroCity Bankshares in the 3rd quarter worth $251,000. Finally, Bank of New York Mellon Corp lifted its stake in MetroCity Bankshares by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company's stock worth $3,252,000 after purchasing an additional 2,049 shares during the last quarter. Institutional investors own 25.33% of the company's stock.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods lifted their price target on MetroCity Bankshares from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd.
Check Out Our Latest Research Report on MetroCity Bankshares
MetroCity Bankshares Company Profile
(
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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