MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim Purchases 1,900 Shares

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim bought 1,900 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $23.90 per share, for a total transaction of $45,410.00. Following the completion of the transaction, the director now directly owns 7,089 shares of the company’s stock, valued at $169,427.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

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

MetroCity Bankshares Stock Performance

Shares of MetroCity Bankshares stock opened at $22.98 on Wednesday. MetroCity Bankshares, Inc. has a 12 month low of $13.10 and a 12 month high of $26.23. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The stock has a market cap of $579.33 million, a PE ratio of 11.66 and a beta of 0.57. The business has a fifty day simple moving average of $23.78 and a 200-day simple moving average of $22.97.

MetroCity Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, May 1st will be paid 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 3.48%. MetroCity Bankshares’s dividend payout ratio (DPR) is presently 40.61%.

Hedge Funds Weigh In On MetroCity Bankshares

A number of large investors have recently made changes to their positions in MCBS. Cahaba Wealth Management Inc. acquired a new stake in shares of MetroCity Bankshares during the first quarter worth approximately $998,000. Sherrill & Hutchins Financial Advisory Inc purchased a new stake in MetroCity Bankshares in the 4th quarter worth approximately $712,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of MetroCity Bankshares by 4.1% during 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 buying an additional 530 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of MetroCity Bankshares by 19.0% during the 4th quarter. SG Americas Securities LLC now owns 10,302 shares of the company’s stock valued at $247,000 after acquiring an additional 1,647 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective on shares of MetroCity Bankshares from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Tuesday, April 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.