Sam Sang-Koo Shim Buys 1,900 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim bought 1,900 shares of the stock in a transaction on 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 purchase, the director now owns 7,089 shares in the company, valued at approximately $169,427.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

MetroCity Bankshares Trading Down 1.8 %

Shares of MCBS stock traded down $0.43 during trading hours on Tuesday, reaching $22.98. 24,182 shares of the stock traded hands, compared to its average volume of 20,871. The business has a fifty day moving average price of $23.81 and a 200 day moving average price of $22.95. MetroCity Bankshares, Inc. has a 1-year low of $13.10 and a 1-year 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 firm has a market capitalization of $579.33 million, a PE ratio of 11.98 and a beta of 0.57.

MetroCity Bankshares Announces Dividend

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

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of MetroCity Bankshares from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Tuesday, April 23rd.

Institutional Investors Weigh In On MetroCity Bankshares

Institutional investors have recently modified their holdings of the stock. Cahaba Wealth Management Inc. purchased a new stake in shares of MetroCity Bankshares during the 1st quarter worth about $998,000. Sherrill & Hutchins Financial Advisory Inc bought a new position in MetroCity Bankshares during the fourth quarter valued at approximately $712,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in 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 valued at $327,000 after acquiring an additional 530 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in 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 acquiring an additional 1,647 shares in the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.

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.