MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sells $759,696.00 in Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim sold 27,132 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $28.00, for a total transaction of $759,696.00. Following the sale, the director now owns 594,271 shares of the company’s stock, valued at $16,639,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sam Sang-Koo Shim also recently made the following trade(s):

• On Thursday, August 22nd, Sam Sang-Koo Shim sold 46,200 shares of MetroCity Bankshares stock. The stock was sold at an average price of $27.90, for a total value of $1,288,980.00.
• On Thursday, August 1st, Sam Sang-Koo Shim sold 3,613 shares of MetroCity Bankshares stock. The shares were sold at an average price of $30.29, for a total value of $109,437.77.
• On Wednesday, June 5th, Sam Sang-Koo Shim purchased 1,420 shares of MetroCity Bankshares stock. The shares were acquired at an average price of $24.00 per share, with a total value of $34,080.00.

MetroCity Bankshares Stock Up 7.2 %

Shares of MCBS opened at $29.67 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.22. The company has a 50-day simple moving average of $27.59 and a 200-day simple moving average of $25.32. MetroCity Bankshares, Inc. has a 52 week low of $18.81 and a 52 week high of $32.50. The firm has a market capitalization of $747.86 million, a P/E ratio of 15.06 and a beta of 0.60.

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

MetroCity Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. MetroCity Bankshares’s dividend payout ratio is currently 40.61%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On MetroCity Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of MCBS. Dimensional Fund Advisors LP boosted its position in shares of MetroCity Bankshares by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock valued at $9,612,000 after acquiring an additional 15,796 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in MetroCity Bankshares by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock valued at $3,252,000 after purchasing an additional 2,049 shares in the last quarter. Vanguard Group Inc. grew 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 period. Inspire Investing LLC acquired a new position in shares of MetroCity Bankshares in the 1st quarter worth approximately $361,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position 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. Institutional investors own 25.33% of the company’s stock.

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.