Inspire Investing LLC Makes New Investment in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Inspire Investing LLC acquired a new stake in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,478 shares of the company’s stock, valued at approximately $361,000. Inspire Investing LLC owned 0.06% of MetroCity Bankshares as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its stake in MetroCity Bankshares by 19.0% during the fourth quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock valued at $247,000 after buying an additional 1,647 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc acquired a new stake in shares of MetroCity Bankshares during the 4th quarter valued at approximately $712,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in MetroCity Bankshares by 4.1% during the fourth 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 purchasing an additional 530 shares during the last quarter. Cahaba Wealth Management Inc. acquired a new position in MetroCity Bankshares in the first quarter worth $998,000. Finally, Empowered Funds LLC increased its stake in MetroCity Bankshares by 8.1% during the first 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. 25.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MetroCity Bankshares Stock Up 0.3 %

MCBS opened at $28.58 on Wednesday. The stock has a market cap of $720.50 million, a P/E ratio of 14.51 and a beta of 0.60. 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 stock’s 50 day moving average price is $25.29 and its 200 day moving average price is $24.35. MetroCity Bankshares, Inc. has a 12 month low of $18.66 and a 12 month high of $28.67.

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

Insider Transactions at MetroCity Bankshares

In other MetroCity Bankshares news, Director Don Leung sold 26,205 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.50, for a total value of $746,842.50. Following the sale, the director now directly owns 1,055,201 shares in the company, valued at $30,073,228.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Don Leung sold 26,205 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 1,055,201 shares of the company’s stock, valued at approximately $30,073,228.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sam Sang-Koo Shim acquired 1,420 shares of MetroCity Bankshares stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $24.00 per share, with a total value of $34,080.00. Following the completion of the purchase, the director now directly owns 625,016 shares of the company’s stock, valued at approximately $15,000,384. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 4,015 shares of company stock valued at $96,066. Corporate insiders own 27.49% of the company’s stock.

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.