Sam Sang-Koo Shim Purchases 695 Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) Stock

MetroCity Bankshares, Inc. (NASDAQ:MCBS) Director Sam Sang-Koo Shim bought 695 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were purchased at an average cost of $23.85 per share, for a total transaction of $16,575.75. Following the completion of the transaction, the director now owns 619,897 shares of the company’s stock, valued at $14,784,543.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

MetroCity Bankshares Price Performance

Shares of MetroCity Bankshares stock traded down $0.43 during trading on Tuesday, hitting $22.98. 24,182 shares of the company’s stock traded hands, compared to its average volume of 20,871. The company has a market cap of $579.33 million, a PE ratio of 11.66 and a beta of 0.57. The firm’s fifty day moving average price is $23.81 and its 200 day moving average price is $22.95. MetroCity Bankshares, Inc. has a twelve month low of $13.10 and a twelve month high of $26.23. 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 Announces Dividend

The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Tuesday, April 30th. MetroCity Bankshares’s payout ratio is 40.61%.

Hedge Funds Weigh In On MetroCity Bankshares

A number of hedge funds have recently modified their holdings of the stock. Cahaba Wealth Management Inc. bought a new stake in MetroCity Bankshares in the first quarter valued at $998,000. Sherrill & Hutchins Financial Advisory Inc acquired a new position in MetroCity Bankshares during the fourth quarter worth approximately $712,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of 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 buying an additional 530 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake 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 worth $247,000 after acquiring an additional 1,647 shares during the period. 25.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price on 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.