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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim sold 46,200 shares of the firm’s 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 completion of the sale, the director now directly owns 537,961 shares of the company’s stock, valued at approximately $15,009,111.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 acquired 1,420 shares of MetroCity Bankshares stock. The stock was acquired at an average cost of $24.00 per share, for a total transaction of $34,080.00.

MetroCity Bankshares Price Performance

Shares of MCBS stock opened at $29.67 on Friday. The company has a market capitalization of $747.86 million, a P/E ratio of 15.06 and a beta of 0.60. The company’s 50-day simple moving average is $27.59 and its two-hundred day simple moving average is $25.34. MetroCity Bankshares, Inc. has a one year low of $18.81 and a one year high of $32.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.22 and a quick ratio of 1.20.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings data on Friday, July 19th. The company reported $0.66 EPS for the quarter, topping 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 company had revenue of $59.67 million for the quarter.

MetroCity Bankshares Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCBS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of 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 worth $327,000 after purchasing an additional 530 shares during the period. Vanguard Group Inc. raised its stake in MetroCity Bankshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 981,024 shares of the company’s stock worth $24,486,000 after buying an additional 14,868 shares in the last quarter. Empowered Funds LLC lifted its holdings in MetroCity Bankshares by 8.1% during the first quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock worth $1,113,000 after buying an additional 3,325 shares during the period. Inspire Investing LLC bought a new stake in MetroCity Bankshares during the 1st quarter valued at $361,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of MetroCity Bankshares by 4.5% in 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 during the period. 25.33% of the stock is currently owned by 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.