Inspire Investing LLC trimmed its position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS – Free Report) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,485 shares of the company’s stock after selling 993 shares during the quarter. Inspire Investing LLC owned 0.05% of MetroCity Bankshares worth $356,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of MCBS. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in MetroCity Bankshares by 3.5% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,066 shares of the company’s stock worth $351,000 after buying an additional 472 shares during the period. Empowered Funds LLC lifted its position in shares of MetroCity Bankshares by 8.1% during the first 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. Bank of New York Mellon Corp lifted its position in shares of MetroCity Bankshares by 1.7% during the second 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. Dimensional Fund Advisors LP lifted its position in shares of MetroCity Bankshares by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock worth $9,612,000 after purchasing an additional 15,796 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of MetroCity Bankshares by 1.5% during the first 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. 25.33% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at MetroCity Bankshares
In related news, Director Don Leung sold 68,321 shares of MetroCity Bankshares stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $28.59, for a total value of $1,953,297.39. Following the completion of the sale, the director now directly owns 931,467 shares in the company, valued at $26,630,641.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sam Sang-Koo Shim sold 3,613 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $30.29, for a total transaction of $109,437.77. Following the completion of the transaction, the director now owns 621,403 shares in the company, valued at approximately $18,822,296.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Don Leung sold 68,321 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $28.59, for a total transaction of $1,953,297.39. Following the sale, the director now directly owns 931,467 shares of the company’s stock, valued at approximately $26,630,641.53. The disclosure for this sale can be found here. Insiders sold 218,642 shares of company stock worth $6,317,697 over the last three months. 27.49% of the stock is owned by corporate insiders.
MetroCity Bankshares Stock Down 4.0 %
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last released its quarterly earnings data on Friday, July 19th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $59.67 million during the quarter. MetroCity Bankshares had a return on equity of 13.85% and a net margin of 24.20%.
MetroCity Bankshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Wednesday, July 31st were issued a $0.20 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. MetroCity Bankshares’s payout ratio is currently 40.61%.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $32.00 target price (up from $28.00) on shares of MetroCity Bankshares in a research report on Tuesday, July 23rd.
Read Our Latest Report on MCBS
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.
Further Reading
- Five stocks we like better than MetroCity Bankshares
- What is the FTSE 100 index?
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- Stock Splits, Do They Really Impact Investors?
- MarketBeat Week in Review – 9/16 – 9/20
- What Are Dividend Champions? How to Invest in the Champions
- Don’t Miss These 3 Retail Stocks for Fall Gains
Receive News & Ratings for MetroCity Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetroCity Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.