Sanctuary Advisors LLC Invests $377,000 in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Sanctuary Advisors LLC purchased a new position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBSFree Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,676 shares of the company’s stock, valued at approximately $377,000. Sanctuary Advisors LLC owned about 0.06% of MetroCity Bankshares at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of 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 purchasing an additional 472 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of MetroCity Bankshares during the first quarter worth about $361,000. Empowered Funds LLC lifted its stake in shares of MetroCity Bankshares by 8.1% in the first quarter. Empowered Funds LLC now owns 44,610 shares of the company’s stock worth $1,113,000 after acquiring an additional 3,325 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of MetroCity Bankshares by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 123,188 shares of the company’s stock worth $3,252,000 after acquiring an additional 2,049 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of MetroCity Bankshares by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 364,142 shares of the company’s stock worth $9,612,000 after acquiring an additional 15,796 shares during the period. 25.33% of the stock is currently owned by institutional investors.

MetroCity Bankshares Price Performance

MetroCity Bankshares stock opened at $32.41 on Friday. The stock’s 50 day moving average is $29.61 and its 200 day moving average is $27.01. 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 market cap of $816.93 million, a P/E ratio of 16.45 and a beta of 0.60. MetroCity Bankshares, Inc. has a one year low of $19.20 and a one year high of $32.52.

MetroCity Bankshares (NASDAQ:MCBSGet Free Report) last posted its quarterly earnings data on Friday, July 19th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $59.67 million for the quarter. MetroCity Bankshares had a return on equity of 13.85% and a net margin of 24.20%.

Insider Buying and Selling at MetroCity Bankshares

In other MetroCity Bankshares news, Director Don Leung sold 17,014 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $31.02, for a total value of $527,774.28. Following the transaction, the director now directly owns 914,453 shares of the company’s stock, valued at approximately $28,366,332.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MetroCity Bankshares news, Director Don Leung sold 17,014 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $31.02, for a total value of $527,774.28. Following the transaction, the director now directly owns 914,453 shares of the company’s stock, valued at approximately $28,366,332.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nack Y. Paek sold 18,287 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $30.71, for a total value of $561,593.77. Following the completion of the transaction, the chief executive officer now directly owns 1,317,913 shares in the company, valued at approximately $40,473,108.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,055 shares of company stock valued at $3,615,819. 27.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $32.00 price objective (up from $28.00) on shares of MetroCity Bankshares in a research note on Tuesday, July 23rd.

Check Out Our Latest Research Report on MCBS

MetroCity Bankshares Company Profile

(Free Report)

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

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Institutional Ownership by Quarter for MetroCity Bankshares (NASDAQ:MCBS)

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