MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim Sells 46,200 Shares

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) Director Sam Sang-Koo Shim sold 46,200 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $27.90, for a total transaction of $1,288,980.00. Following the transaction, the director now owns 537,961 shares of the company's stock, valued at $15,009,111.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, August 19th, Sam Sang-Koo Shim sold 27,132 shares of MetroCity Bankshares stock. The stock was sold at an average price of $28.00, for a total value of $759,696.00.
• 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 bought 1,420 shares of MetroCity Bankshares stock. The shares were purchased at an average price of $24.00 per share, for a total transaction of $34,080.00.

MetroCity Bankshares Stock Performance

Shares of MCBS stock traded up $1.98 during trading on Friday, reaching $29.67. 47,618 shares of the company's stock were exchanged, compared to its average volume of 31,895. MetroCity Bankshares, Inc. has a twelve month low of $18.81 and a twelve month high of $32.50. The firm's fifty day moving average price is $27.59 and its 200-day moving average price is $25.32. The company has a quick ratio of 1.20, a current ratio of 1.22 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $747.86 million, a PE ratio of 15.06 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last released its quarterly earnings data on Friday, July 19th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.07. The firm had revenue of $59.67 million during the quarter. MetroCity Bankshares had a net margin of 24.20% and a return on equity of 14.02%.

MetroCity Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.80 annualized dividend and a yield of 2.70%. MetroCity Bankshares's dividend payout ratio (DPR) is presently 40.61%.

Institutional Investors Weigh In On MetroCity Bankshares

Institutional investors have recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake 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 valued at $327,000 after purchasing an additional 530 shares during the period. Inspire Investing LLC acquired a new position in shares of MetroCity Bankshares in the first quarter valued at about $361,000. Cahaba Wealth Management Inc. bought a new position in MetroCity Bankshares during the first quarter worth about $998,000. Empowered Funds LLC raised its stake in MetroCity Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,610 shares of the company's stock worth $1,113,000 after purchasing an additional 3,325 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in MetroCity Bankshares by 1.7% in the 2nd 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 during the period. Institutional investors own 25.33% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $32.00 target price (up from $28.00) on shares of MetroCity Bankshares in a research note on Tuesday, July 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.