MetroCity Bankshares, Inc. (NASDAQ:MCBS) Declares $0.20 Quarterly Dividend

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Wednesday, May 1st will be given a dividend of 0.20 per share on Friday, May 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Tuesday, April 30th.

MetroCity Bankshares has raised its dividend payment by an average of 21.6% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. MetroCity Bankshares has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings.

MetroCity Bankshares Stock Up 0.0 %

MCBS stock opened at $22.65 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.20. MetroCity Bankshares has a 52-week low of $13.10 and a 52-week high of $26.23. The company has a 50-day moving average of $23.81 and a two-hundred day moving average of $22.70. The stock has a market capitalization of $571.01 million, a price-to-earnings ratio of 11.21 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 24.44% and a return on equity of 13.83%. The firm had revenue of $55.38 million for the quarter.

Institutional Investors Weigh In On MetroCity Bankshares

Several hedge funds have recently made changes to their positions in MCBS. Gyon Technologies Capital Management LP bought a new stake in shares of MetroCity Bankshares in the fourth quarter valued at about $53,000. Tower Research Capital LLC TRC lifted its stake in shares of MetroCity Bankshares by 225.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,961 shares of the company’s stock valued at $58,000 after buying an additional 2,050 shares during the period. Citigroup Inc. lifted its stake in shares of MetroCity Bankshares by 1,143.4% in the second quarter. Citigroup Inc. now owns 5,931 shares of the company’s stock valued at $106,000 after buying an additional 5,454 shares during the period. Barclays PLC lifted its stake in shares of MetroCity Bankshares by 450.3% in the fourth quarter. Barclays PLC now owns 5,013 shares of the company’s stock valued at $108,000 after buying an additional 4,102 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of MetroCity Bankshares by 108.0% in the second quarter. Wells Fargo & Company MN now owns 6,961 shares of the company’s stock valued at $125,000 after buying an additional 3,615 shares during the period. Institutional investors own 25.33% of the company’s stock.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.