GuruFocus - On July 25, 2024, Director Don Leung sold 20,065 shares of MetroCity Bankshares Inc (NASDAQ:MCBS) at a price of $31.1 per share. The transaction was reported in an SEC Filing. Following this transaction, the insider now owns 828,185 shares of the company.
MetroCity Bankshares Inc operates as the bank holding company for Metro (TSX:MRU) City Bank, which provides a range of banking services primarily to small to medium-sized businesses and individuals in the United States. The company's services include commercial and consumer banking products, including loans, mortgages, and deposit accounts.
Over the past year, Don Leung has sold a total of 253,282 shares and has not made any purchases of the company's stock. The insider transaction history for MetroCity Bankshares Inc shows a trend with 2 insider buys and 7 insider sells over the past year.
Shares of MetroCity Bankshares Inc were trading at $31.1 on the day of the sale, giving the company a market cap of $779.211 million. The price-earnings ratio of the stock is 14.51, which is above the industry median of 10.27 and also higher than the companys historical median.
The stock is currently considered Significantly Overvalued based on the GuruFocus Value, with a price-to-GF-Value ratio of 1.48. The GF Value of $20.99 is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider sale might interest investors tracking insider behaviors and evaluating the stock's valuation metrics such as the price-sales ratio, price-book ratio, and price-to-free cash flow.
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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