GuruFocus - On July 23, 2024, Director Don Leung of MetroCity Bankshares Inc (NASDAQ:MCBS) 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 (TSX:MRU) 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 companys 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 stocks valuation metrics and the overall trading history of the insider at MetroCity Bankshares Inc.
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.
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