On July 23, 2024, Director Don Leung of MetroCity Bankshares Inc (MCBS, Financial) executed a significant stock transaction, selling 83,217 shares at a market price of $31.09 per share. This transaction was documented in the SEC Filing. Following this sale, the insider now owns 848,250 shares of the company.
MetroCity Bankshares Inc operates as the bank holding company for Metro City Bank, which provides a range of financial services including business and personal banking products primarily targeted at the South Asian community in the United States.
Over the past year, the insider has sold a total of 233,217 shares and has not purchased any shares. This recent transaction is part of a broader trend observed within the company, where there have been 5 insider sells and only 2 insider buys over the same timeframe.
Shares of MetroCity Bankshares Inc were trading at $31.09 on the day of the transaction, giving the company a market cap of $786.303 million. The price-earnings ratio stands at 14.64, which is above the industry median of 10.27 and also higher than 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 $20.96. 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 sell event might interest investors tracking insider behaviors, especially considering the stock’s valuation metrics and the overall trading history of the insider at MetroCity Bankshares Inc.
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