MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sells $296,842.78 in Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Don Leung sold 9,554 shares of MetroCity Bankshares stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $31.07, for a total transaction of $296,842.78. Following the transaction, the director now directly owns 828,185 shares in the company, valued at $25,731,707.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, July 22nd, Don Leung sold 17,014 shares of MetroCity Bankshares stock. The stock was sold at an average price of $31.02, for a total transaction of $527,774.28.
• 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 stock was 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 stock was sold at an average price of $28.50, for a total transaction of $1,738.50.

MetroCity Bankshares Price Performance

Shares of NASDAQ:MCBS opened at $31.97 on Monday. The company has a market capitalization of $805.96 million, a P/E ratio of 16.23 and a beta of 0.60. MetroCity Bankshares, Inc. has a fifty-two week low of $18.81 and a fifty-two week high of $32.00. 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’s 50-day moving average is $26.07 and its 200 day moving average is $24.73.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings results on Friday, July 19th. The company reported $0.66 earnings per share 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 for the quarter.

MetroCity Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Wednesday, July 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, July 31st. MetroCity Bankshares’s dividend payout ratio (DPR) is 40.61%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of MetroCity Bankshares by 19.0% in the fourth 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. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of MetroCity Bankshares by 4.1% in 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. Inspire Investing LLC bought a new position in MetroCity Bankshares during the first quarter valued at approximately $361,000. Cahaba Wealth Management Inc. bought a new position in MetroCity Bankshares during the first quarter valued at approximately $998,000. Finally, Empowered Funds LLC grew its position 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 acquiring an additional 3,325 shares during the last quarter. 25.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $32.00 price target (up from $28.00) on shares of MetroCity Bankshares in a report 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.