Insider Selling: MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sells 26,205 Shares of Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Don Leung sold 26,205 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.50, for a total transaction of $746,842.50. Following the sale, the director now owns 1,055,201 shares of the company’s stock, valued at $30,073,228.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Don Leung also recently made the following trade(s):

• On Friday, July 12th, Don Leung sold 61 shares of MetroCity Bankshares stock. The stock was sold at an average price of $28.50, for a total transaction of $1,738.50.

MetroCity Bankshares Trading Up 0.3 %

MetroCity Bankshares stock traded up $0.08 during midday trading on Tuesday, reaching $28.58. The stock had a trading volume of 116,038 shares, compared to its average volume of 25,176. The firm’s fifty day simple moving average is $25.21 and its two-hundred day simple moving average is $24.32. MetroCity Bankshares, Inc. has a twelve month low of $18.66 and a twelve month high of $28.67. 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 has a market cap of $720.50 million, a price-to-earnings ratio of 14.54 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings data on Friday, April 19th. The company reported $0.57 EPS for the quarter. MetroCity Bankshares had a net margin of 23.26% and a return on equity of 13.15%. The firm had revenue of $32.65 million during the quarter.

MetroCity Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Wednesday, May 1st were given a $0.20 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. MetroCity Bankshares’s payout ratio is 40.61%.

Institutional Investors Weigh In On MetroCity Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in 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 buying an additional 530 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of MetroCity Bankshares by 19.0% in 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 last quarter. Sherrill & Hutchins Financial Advisory Inc acquired a new stake in shares of MetroCity Bankshares in the 4th quarter valued at $712,000. Vanguard Group Inc. lifted its stake in shares of MetroCity Bankshares by 1.5% in the 1st 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. Finally, Empowered Funds LLC lifted its stake 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 valued at $1,113,000 after purchasing an additional 3,325 shares during the last quarter. Hedge funds and other institutional investors own 25.33% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of MetroCity Bankshares from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Tuesday, April 23rd.

MetroCity Bankshares Company Profile

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.