MetroCity Bankshares, Inc. (NASDAQ:MCBS) Declares Quarterly Dividend of $0.29

by · The Cerbat Gem

MetroCity Bankshares, Inc. (NASDAQ:MCBS – Get Free Report) declared a quarterly dividend on Wednesday, April 15th. Stockholders of record on Wednesday, April 29th will be given a dividend of 0.29 per share on Friday, May 8th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, April 29th. This is a 16.0% increase from MetroCity Bankshares’s previous quarterly dividend of $0.25.

MetroCity Bankshares has increased its dividend payment by an average of 0.2%annually over the last three years. MetroCity Bankshares has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Stock Performance

Shares of MCBS opened at $31.17 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50 day moving average is $29.03 and its 200-day moving average is $27.66. MetroCity Bankshares has a 12-month low of $24.53 and a 12-month high of $31.46. The stock has a market capitalization of $896.14 million, a P/E ratio of 11.85 and a beta of 0.68.

MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last released its earnings results on Friday, January 30th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). MetroCity Bankshares had a net margin of 27.93% and a return on equity of 14.82%. The business had revenue of $43.74 million for the quarter, compared to analyst estimates of $44.50 million.

MetroCity Bankshares Company Profile

(Get Free Report)

MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.

MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.

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