Shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS – Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $26.82 and last traded at $26.40, with a volume of 319834 shares. The stock had previously closed at $25.58.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods lifted their price objective on shares of MetroCity Bankshares from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Tuesday, April 23rd.
Read Our Latest Analysis on MCBS
MetroCity Bankshares Stock Up 3.2 %
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last issued its earnings results on Friday, April 19th. The company reported $0.57 earnings per share for the quarter. The business had revenue of $32.65 million during the quarter. MetroCity Bankshares had a return on equity of 13.15% and a net margin of 23.26%.
MetroCity Bankshares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.03%. The ex-dividend date was Tuesday, April 30th. MetroCity Bankshares’s payout ratio is 40.61%.
Insider Buying and Selling at MetroCity Bankshares
In other MetroCity Bankshares news, Director Sam Sang-Koo Shim acquired 1,420 shares of MetroCity Bankshares stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $24.00 per share, with a total value of $34,080.00. Following the completion of the purchase, the director now directly owns 625,016 shares of the company’s stock, valued at approximately $15,000,384. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have acquired 4,015 shares of company stock valued at $96,066. Company insiders own 27.49% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the stock. 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 valued at $24,486,000 after buying an additional 14,868 shares during the last quarter. Empowered Funds LLC boosted its stake in MetroCity Bankshares by 8.1% in the first quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock valued at $1,113,000 after acquiring an additional 3,325 shares in the last quarter. Cahaba Wealth Management Inc. purchased a new position in MetroCity Bankshares in the first quarter worth $998,000. Sherrill & Hutchins Financial Advisory Inc acquired a new position in shares of MetroCity Bankshares during the fourth quarter worth $712,000. Finally, Inspire Investing LLC purchased a new stake in shares of MetroCity Bankshares during the 1st quarter valued at $361,000. 25.33% of the stock is owned by institutional investors.
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.
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