On July 26, 2024, Don Leung, Director at MetroCity Bankshares Inc (MCBS, Financial), executed a sale of 11,193 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now directly owns 816,992 shares in the company.
MetroCity Bankshares Inc operates as the bank holding company for Metro City Bank, which provides a range of banking products and services in the United States. The company's offerings include checking accounts, savings programs, automated teller machines, debit cards, and all forms of personal and commercial loans.
Over the past year, the insider has sold a total of 264,475 shares and has not made any purchases. The recent sale is part of a broader trend observed over the past year, where there have been 8 insider sells and only 2 insider buys at MetroCity Bankshares Inc.
Shares of MetroCity Bankshares Inc were priced at $31.11 on the day of the sale, positioning the company with a market cap of approximately $796.182 million. The price-earnings ratio stands at 14.83, which is above both the industry median of 10.36 and the company's historical median.
The stock is currently considered Significantly Overvalued with a price-to-GF Value ratio of 1.48, based on a GF Value of $21.03. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
This insider sale could be a point of interest for investors, especially considering the stock's current valuation and the recent trends in insider transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
