News
Chairman Farid Tan sells 9,001 shares of MetroCity Bankshares Inc (MCBS)
President Farid Tan sold 9,001 shares of MetroCity Bankshares Inc (NASDAQ:MCBS) on July 30, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns 944,888 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 commercial and consumer banking products, primarily in the United States. The bank serves the needs of small and medium-sized businesses, real estate investors, and individuals.
Over the past year, Farid Tan sold a total of 10,000 shares and made no purchases. The insider transaction history for MetroCity Bankshares Inc shows a trend with 2 insider purchases and 11 insider sales in the last year.
MetroCity Bankshares Inc shares were trading at $32 on the day of the transaction. The company has a market value of $812.142 million. The price-earnings ratio is at 15.12, above the industry median of 10.435.
The stock is currently considered Significantly overvalued according to GF Value, with a Price-to-GF-Value ratio of 1.52. The GF Value of $21.03 is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
Insider Selling: Chairman Farid Tan Sells 9,001 Shares of MetroCity Bankshares Inc (MCBS)
Insider Selling: Chairman Farid Tan Sells 9,001 Shares of MetroCity Bankshares Inc (MCBS)
This insider selling may be of interest to current and potential investors, as insider transactions can provide insights into how top executives view the stock’s valuation and future prospects.
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This article first appeared in GuruFocus.