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

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

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

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

MetroCity Bankshares Price Performance

MCBS opened at $24.25 on Thursday. The stock’s 50-day moving average price is $23.79 and its 200 day moving average price is $22.98. MetroCity Bankshares, Inc. has a 12-month low of $13.10 and a 12-month 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. The firm has a market cap of $611.34 million, a price-to-earnings ratio of 12.31 and a beta of 0.57.

MetroCity Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.80 annualized dividend and a yield of 3.30%. MetroCity Bankshares’s dividend payout ratio (DPR) is 40.61%.

Institutional Investors Weigh In On MetroCity Bankshares

Several large investors have recently bought and sold shares of MCBS. Cahaba Wealth Management Inc. purchased a new stake in MetroCity Bankshares during the 1st quarter worth about $998,000. Sherrill & Hutchins Financial Advisory Inc purchased a new stake in MetroCity Bankshares during the 4th quarter worth about $712,000. SG Americas Securities LLC purchased a new stake in MetroCity Bankshares during the 3rd quarter worth about $170,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in MetroCity Bankshares by 17.4% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,064 shares of the company’s stock worth $257,000 after purchasing an additional 1,936 shares during the period. Hedge funds and other institutional investors own 25.33% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased 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.

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.