Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stock Position in MetroCity Bankshares, Inc. (NASDAQ:MCBS)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in MetroCity Bankshares, Inc. (NASDAQ:MCBS) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,594 shares of the company’s stock after buying an additional 530 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in MetroCity Bankshares were worth $327,000 as of its most recent SEC filing.

Separately, Sherrill & Hutchins Financial Advisory Inc bought a new stake in MetroCity Bankshares in the fourth quarter valued at about $712,000. Institutional investors own 25.33% of the company’s stock.

Insider Activity

In related news, Director Sam Sang-Koo Shim bought 1,900 shares of the stock in a transaction dated Monday, April 29th. The stock was bought at an average cost of $23.90 per share, with a total value of $45,410.00. Following the completion of the acquisition, the director now owns 7,089 shares of the company’s stock, valued at $169,427.10. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 27.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their target price on MetroCity Bankshares from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Tuesday, April 23rd.

MetroCity Bankshares Stock Performance

Shares of MCBS opened at $25.37 on Friday. The stock has a market capitalization of $639.58 million, a PE ratio of 12.88 and a beta of 0.59. The business’s fifty day moving average price is $23.88 and its 200 day moving average price is $23.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.20. MetroCity Bankshares, Inc. has a 12-month low of $14.51 and a 12-month high of $26.23.

MetroCity Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, May 1st will be given a $0.20 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.15%. MetroCity Bankshares’s payout ratio is currently 40.61%.

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.