MetroCity Bankshares director Shim bought over $61,000 worth of shares

Metropolitan Bank Stock According to its latest filing with the U.S. Securities and Exchange Commission, the company (NASDAQ: ) reported that director Shim Sam Sang-Koo recently purchased shares of its common stock. The transactions took place on April 26 and April 29, 2024, and Shim acquired significant shares, indicating an increase in the director's stake in the bank holding company.

On April 26, Shim purchased 695 shares of MetroCity Bankshares stock at a price of $23.85 per share. Following this transaction, the directors’ direct shareholding in the company increased significantly. Shortly after, on April 29, an additional 1,900 shares were acquired at a slightly higher price ($23.9 per share). Notably, these shares were purchased indirectly by Shen’s spouse, further contributing to the director’s overall investment in the company.

The total amount of these purchases was more than $61,985, and the prices for these purchases ranged from $23.85 to $23.9 per share. The reported acquisition strengthens Shim's confidence in the company, as evidenced by the increase in ownership stake.

Headquartered in Doraville, Georgia, MetroCity Bankshares operates as the holding company of Metro City Bank and provides a range of banking services to its customers. Investors typically view these recent transactions by key directors as a positive sign about a company's performance and prospects.

Investors and market watchers often monitor insider buying and selling activity because they can provide insight into a company's financial health and the sentiment of its executives and directors. Details of these transactions are publicly disclosed in compliance with regulatory requirements, providing transparency into the trading activities of corporate insiders.

3rd party advertising. Not an offer or recommendation by disclosures here or
Remove ads

Investment Professional Insights

Amid insider trading activity, MetroCity Bankshares, Inc. (NASDAQ: MCBS ) revealed a number of financial metrics that may be of interest to investors looking to understand the company's current valuation and performance. MetroCity Bankshares has a market capitalization of US$567.38 million and a price-to-earnings ratio of 11.48, which means its valuation can be considered reasonable in the current market context. The trailing 12-month adjusted price-to-earnings ratio as of Q1 2024 was nearly 11.45, showing the stability of the company's earnings relative to its stock price.

In terms of profitability, MetroCity Bankshares has been profitable over the last twelve months, in line with analysts predicting that the company will remain profitable this year. This was highlighted by a strong operating margin of 58.97% during the same period. Additionally, the company has a strong track record of rewarding shareholders, having raised its dividend for three consecutive years and maintained its dividend for nine consecutive years. As of the latest data, the dividend yield is an attractive 3.42%, and the dividend growth rate over the past 12 months is 11.11%.

There is additional information for those who wish to delve deeper into MetroCity Bankshares' financial health and future forecasts Investment Professional Tips usable. This includes insights into the company's gross margin, which is considered a weak link. However, it's worth noting that MetroCity Bankshares has delivered strong returns over the past decade, which could be a compelling factor for long-term investors.To explore these tips and more, consider using a coupon code PRONEWS24 Get an additional 10% discount on annual or two-year Pro and Pro+ subscriptions at InvestingPro. InvestingPro lists 6 additional tips to provide further guidance on whether MetroCity Bankshares fits your investment strategy.

3rd party advertising. Not an offer or recommendation by disclosures here or
Remove ads

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *