MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Ajit A. Patel Sells 5,000 Shares of Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Ajit A. Patel sold 5,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $33.10, for a total transaction of $165,500.00. Following the completion of the sale, the director now directly owns 645,739 shares in the company, valued at $21,373,960.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MetroCity Bankshares Trading Up 2.7 %

NASDAQ:MCBS opened at $34.03 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares, Inc. has a twelve month low of $19.85 and a twelve month high of $34.62. The company has a market cap of $861.98 million, a P/E ratio of 14.67 and a beta of 0.60. The business has a 50 day moving average price of $30.33 and a two-hundred day moving average price of $27.78.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings data on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $60.45 million for the quarter. MetroCity Bankshares had a return on equity of 15.09% and a net margin of 25.54%.

MetroCity Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 30th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.70%. 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 presently 39.66%.

Analyst Upgrades and Downgrades

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 note on Tuesday, October 22nd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MCBS. SG Americas Securities LLC acquired a new stake in MetroCity Bankshares during the 3rd quarter valued at $212,000. GSA Capital Partners LLP acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter worth about $251,000. Creative Planning acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter worth about $331,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of MetroCity Bankshares by 3.5% during the 1st 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 period. Finally, Inspire Investing LLC acquired a new position in MetroCity Bankshares in the 1st quarter valued at about $361,000. 25.33% of the stock is 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.