MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sells $527,774.28 in Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Don Leung sold 17,014 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $31.02, for a total transaction of $527,774.28. Following the completion of the sale, the director now directly owns 914,453 shares in the company, valued at approximately $28,366,332.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, July 17th, Don Leung sold 68,321 shares of MetroCity Bankshares stock. The stock was sold at an average price of $28.59, for a total transaction of $1,953,297.39.
• On Monday, July 15th, Don Leung sold 26,205 shares of MetroCity Bankshares stock. The shares were sold at an average price of $28.50, for a total transaction of $746,842.50.
• On Friday, July 12th, Don Leung sold 61 shares of MetroCity Bankshares stock. The shares were sold at an average price of $28.50, for a total transaction of $1,738.50.

MetroCity Bankshares Trading Up 1.0 %

Shares of MCBS opened at $30.78 on Friday. The firm’s 50-day moving average price is $25.95 and its 200-day moving average price is $24.65. The firm has a market capitalization of $775.84 million, a price-to-earnings ratio of 15.62 and a beta of 0.60. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. MetroCity Bankshares, Inc. has a 1-year low of $18.81 and a 1-year high of $31.50.

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

MetroCity Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Wednesday, July 31st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.60%. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 40.61%.

Analyst Upgrades and Downgrades

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 note on Tuesday.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MCBS. SG Americas Securities LLC lifted 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 valued at $247,000 after acquiring an additional 1,647 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in MetroCity Bankshares by 4.1% during the 4th 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 period. Inspire Investing LLC purchased a new position in MetroCity Bankshares during the 1st quarter valued at about $361,000. Sherrill & Hutchins Financial Advisory Inc purchased a new position in MetroCity Bankshares in the fourth quarter worth about $712,000. Finally, Cahaba Wealth Management Inc. purchased a new position in MetroCity Bankshares in the first quarter worth about $998,000. 25.33% of the stock is owned by hedge funds and other institutional investors.

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.