President Tan Farid sells 21,000 shares of MCBS in 3 transactions for $710,050.00 (blended avg $33.81)
Tan Farid, President of MetroCity Bankshares, executed three separate sales totaling 21,000 shares for $710,050.00 on 2024-11-06 at prices ranging from $33.33 to $34.55. This represents a 2.2% reduction in his holdings, leaving him with 923,888 shares post-transaction. The sale occurred near the stock's 52-week high of $34.60 and follows a strong 30-day gain of 13.9% and 90-day gain of 22.3%, placing the stock at -4.2% from its peak. The company's valuation metrics (P/E of 15.41, market cap of $839,246,377.08) suggest a relatively modest multiple against net income of $16,937,000.00. The magnitude and timing of the sale relative to recent price momentum warrant monitoring to determine whether subsequent share price behavior reveals anything about management's forward outlook.