MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Sells $15,904.00 in Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) President Farid Tan sold 497 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $32.00, for a total value of $15,904.00. Following the sale, the president now owns 954,391 shares of the company’s stock, valued at approximately $30,540,512. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Farid Tan also recently made the following trade(s):

• On Monday, July 29th, Farid Tan sold 502 shares of MetroCity Bankshares stock. The shares were sold at an average price of $32.00, for a total value of $16,064.00.

MetroCity Bankshares Stock Performance

Shares of NASDAQ MCBS traded up $0.48 during mid-day trading on Tuesday, hitting $31.79. The company had a trading volume of 647 shares, compared to its average volume of 29,527. The stock has a market cap of $801.30 million, a price-to-earnings ratio of 16.14 and a beta of 0.60. MetroCity Bankshares, Inc. has a 12 month low of $18.81 and a 12 month high of $32.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.22 and a quick ratio of 1.20. The firm’s 50 day simple moving average is $26.19 and its two-hundred day simple moving average is $24.78.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings results on Friday, July 19th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $59.67 million for the quarter. MetroCity Bankshares had a return on equity of 14.02% and a net margin of 24.20%.

MetroCity Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, July 31st. MetroCity Bankshares’s payout ratio is currently 40.61%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $32.00 price objective (up previously from $28.00) on shares of MetroCity Bankshares in a research note on Tuesday, July 23rd.

Hedge Funds Weigh In On MetroCity Bankshares

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of MetroCity Bankshares by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock valued at $247,000 after purchasing an additional 1,647 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of MetroCity Bankshares by 4.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,594 shares of the company’s stock worth $327,000 after acquiring an additional 530 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of MetroCity Bankshares in the 1st quarter worth $361,000. Cahaba Wealth Management Inc. acquired a new position in shares of MetroCity Bankshares in the 1st quarter worth $998,000. Finally, Empowered Funds LLC grew its holdings in shares of 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 acquiring an additional 3,325 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors and hedge funds.

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.