MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim Acquires 695 Shares

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim bought 695 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was bought at an average price of $23.85 per share, with a total value of $16,575.75. Following the completion of the transaction, the director now directly owns 619,897 shares of the company’s stock, valued at approximately $14,784,543.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, April 29th, Sam Sang-Koo Shim purchased 1,900 shares of MetroCity Bankshares stock. The shares were purchased at an average cost of $23.90 per share, with a total value of $45,410.00.

MetroCity Bankshares Price Performance

NASDAQ MCBS traded down $0.43 on Tuesday, reaching $22.98. 24,182 shares of the company’s stock traded hands, compared to its average volume of 20,871. The stock has a market cap of $579.33 million, a PE ratio of 11.66 and a beta of 0.57. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.20. MetroCity Bankshares, Inc. has a 12 month low of $13.10 and a 12 month high of $26.23. The stock has a 50-day simple moving average of $23.81 and a 200 day simple moving average of $22.95.

MetroCity Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, April 30th. MetroCity Bankshares’s dividend payout ratio is currently 40.61%.

Institutional Trading of MetroCity Bankshares

Hedge funds have recently added to or reduced their stakes in the business. Cahaba Wealth Management Inc. purchased a new position in shares of MetroCity Bankshares in the first quarter worth about $998,000. Sherrill & Hutchins Financial Advisory Inc bought a new position in MetroCity Bankshares during the 4th quarter worth approximately $712,000. SG Americas Securities LLC purchased a new position in MetroCity Bankshares in the 3rd quarter worth approximately $170,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in MetroCity Bankshares by 17.4% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,064 shares of the company’s stock valued at $257,000 after purchasing an additional 1,936 shares during the last quarter. 25.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on MetroCity Bankshares from $27.00 to $28.00 and gave the company a “market perform” rating in a research report 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.