MetroCity Bankshares, Inc. (NASDAQ:MCBS – Get Free Report) Director Don Leung sold 9,554 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $31.07, for a total transaction of $296,842.78. Following the completion of the transaction, the director now owns 828,185 shares in the company, valued at $25,731,707.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Don Leung also recently made the following trade(s):
- On Monday, July 22nd, Don Leung sold 17,014 shares of MetroCity Bankshares stock. The stock was sold at an average price of $31.02, for a total transaction of $527,774.28.
- On Wednesday, July 17th, Don Leung sold 68,321 shares of MetroCity Bankshares stock. The stock was sold at an average price of $28.59, for a total transaction of $1,953,297.39.
- On Monday, July 15th, Don Leung sold 26,205 shares of MetroCity Bankshares stock. The stock was sold at an average price of $28.50, for a total transaction of $746,842.50.
- On Friday, July 12th, Don Leung sold 61 shares of MetroCity Bankshares stock. The shares were sold at an average price of $28.50, for a total transaction of $1,738.50.
MetroCity Bankshares Trading Up 3.9 %
Shares of NASDAQ:MCBS opened at $31.97 on Monday. The company has a market cap of $805.96 million, a PE ratio of 16.23 and a beta of 0.60. The company’s 50-day moving average price is $26.07 and its 200 day moving average price is $24.73. MetroCity Bankshares, Inc. has a fifty-two week low of $18.81 and a fifty-two week high of $32.00. The company has a quick ratio of 1.20, a current ratio of 1.22 and a debt-to-equity ratio of 0.88.
MetroCity Bankshares Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.80 annualized dividend and a yield of 2.50%. MetroCity Bankshares’s payout ratio is 40.61%.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $32.00 price objective (up from $28.00) on shares of MetroCity Bankshares in a research report on Tuesday, July 23rd.
Read Our Latest Stock Analysis on MetroCity Bankshares
Hedge Funds Weigh In On MetroCity Bankshares
Several large investors have recently bought and sold shares of MCBS. Cahaba Wealth Management Inc. acquired a new position in MetroCity Bankshares during the 1st quarter valued at about $998,000. Vanguard Group Inc. grew its stake in shares of MetroCity Bankshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 981,024 shares of the company’s stock worth $24,486,000 after purchasing an additional 14,868 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of MetroCity Bankshares in the 1st quarter worth approximately $361,000. Empowered Funds LLC grew its stake in shares of MetroCity Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock worth $1,113,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of MetroCity Bankshares by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock worth $3,252,000 after purchasing an additional 2,049 shares during 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.
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