Insider Buying: MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Acquires 1,900 Shares of Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim purchased 1,900 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average price of $23.90 per share, for a total transaction of $45,410.00. Following the transaction, the director now directly owns 7,089 shares of the company’s stock, valued at approximately $169,427.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, April 26th, Sam Sang-Koo Shim acquired 695 shares of MetroCity Bankshares stock. The stock was purchased at an average cost of $23.85 per share, for a total transaction of $16,575.75.

MetroCity Bankshares Price Performance

NASDAQ:MCBS traded down $0.43 on Tuesday, hitting $22.98. The company had a trading volume of 24,182 shares, compared to its average volume of 20,871. The firm has a 50 day moving average of $23.81 and a two-hundred day moving average of $22.95. The stock has a market capitalization of $579.33 million, a price-to-earnings ratio of 11.98 and a beta of 0.57. MetroCity Bankshares, Inc. has a 52 week low of $13.10 and a 52 week high of $26.23. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.85.

MetroCity Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, April 30th. MetroCity Bankshares’s dividend payout ratio (DPR) is 40.61%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On MetroCity Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of 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 valued at $327,000 after acquiring an additional 530 shares during the last quarter. SG Americas Securities LLC raised its position in MetroCity Bankshares by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock worth $247,000 after purchasing an additional 1,647 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc acquired a new position in MetroCity Bankshares during the 4th quarter worth about $712,000. Finally, Cahaba Wealth Management Inc. bought a new stake in shares of MetroCity Bankshares in the 1st quarter valued at about $998,000. Institutional investors and hedge funds 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.