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

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

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

MetroCity Bankshares Stock Performance

Shares of MCBS stock opened at $22.65 on Friday. MetroCity Bankshares has a one year low of $13.10 and a one year high of $26.23. The company’s 50-day moving average is $23.81 and its 200 day moving average is $22.70. The company has a market capitalization of $571.01 million, a price-to-earnings ratio of 11.21 and a beta of 0.57. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.21.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate 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 Trading of MetroCity Bankshares

A number of institutional investors have recently made changes to their positions in MCBS. Gyon Technologies Capital Management LP purchased a new stake in shares of MetroCity Bankshares during the 4th quarter valued at about $53,000. Tower Research Capital LLC TRC boosted its holdings in shares of MetroCity Bankshares by 225.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,961 shares of the company’s stock valued at $58,000 after acquiring an additional 2,050 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of MetroCity Bankshares by 1,143.4% during the 2nd quarter. Citigroup Inc. now owns 5,931 shares of the company’s stock valued at $106,000 after acquiring an additional 5,454 shares during the last quarter. Barclays PLC boosted its holdings in shares of MetroCity Bankshares by 450.3% during the 4th quarter. Barclays PLC now owns 5,013 shares of the company’s stock valued at $108,000 after acquiring an additional 4,102 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of MetroCity Bankshares by 108.0% during the 2nd quarter. Wells Fargo & Company MN now owns 6,961 shares of the company’s stock valued at $125,000 after acquiring an additional 3,615 shares during the last quarter. Hedge funds and other institutional investors own 25.33% of the company’s stock.

About MetroCity Bankshares

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.