10,813 Shares in MetroCity Bankshares, Inc. (NASDAQ:MCBS) Acquired by Creative Planning

Creative Planning purchased a new position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,813 shares of the company’s stock, valued at approximately $331,000.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of MetroCity Bankshares during the 3rd quarter worth approximately $212,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in MetroCity Bankshares by 3.5% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,066 shares of the company’s stock valued at $351,000 after purchasing an additional 472 shares during the last quarter. Inspire Investing LLC bought a new position in MetroCity Bankshares in the 1st quarter valued at approximately $361,000. Sanctuary Advisors LLC bought a new position in MetroCity Bankshares in the 2nd quarter valued at approximately $377,000. Finally, Empowered Funds LLC lifted its stake in MetroCity Bankshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock valued at $1,113,000 after purchasing an additional 3,325 shares during the last quarter. Institutional investors and hedge funds own 25.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of MetroCity Bankshares from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd.

MetroCity Bankshares Price Performance

Shares of NASDAQ:MCBS opened at $34.03 on Friday. The company has a market cap of $861.98 million, a price-to-earnings ratio of 14.67 and a beta of 0.60. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $30.33 and a 200 day simple moving average of $27.78. MetroCity Bankshares, Inc. has a one year low of $19.85 and a one year high of $34.62.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings results on Friday, October 18th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $60.45 million during the quarter. MetroCity Bankshares had a net margin of 25.54% and a return on equity of 15.09%.

MetroCity Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Wednesday, October 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, October 30th. This is an increase from MetroCity Bankshares’s previous quarterly dividend of $0.20. MetroCity Bankshares’s dividend payout ratio (DPR) is currently 39.66%.

Insider Buying and Selling

In related news, Director Sam Sang-Koo Shim sold 46,200 shares of MetroCity Bankshares stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $27.90, for a total transaction of $1,288,980.00. Following the completion of the transaction, the director now owns 537,961 shares of the company’s stock, valued at $15,009,111.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MetroCity Bankshares news, Director Sam Sang-Koo Shim sold 46,200 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $27.90, for a total value of $1,288,980.00. Following the completion of the sale, the director now directly owns 537,961 shares in the company, valued at approximately $15,009,111.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Farid Tan sold 21,000 shares of MetroCity Bankshares stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $33.81, for a total transaction of $710,010.00. Following the transaction, the president now owns 923,888 shares of the company’s stock, valued at $31,236,653.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,332 shares of company stock valued at $2,924,186 over the last quarter. Insiders own 27.49% of the company’s stock.

MetroCity Bankshares 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.