MetroCity Bankshares, Inc. (NASDAQ:MCBS) Declares Dividend Increase – $0.29 Per Share

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, April 15th. Investors of record on Wednesday, April 29th will be paid a dividend of 0.29 per share on Friday, May 8th. This represents a c) dividend on an annualized basis and a 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 raised its dividend by an average of 0.2%per year over the last three years. MetroCity Bankshares has a dividend payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings.

MetroCity Bankshares Trading Down 0.2%

Shares of MetroCity Bankshares stock opened at $31.17 on Thursday. MetroCity Bankshares has a 52-week low of $24.53 and a 52-week high of $31.46. The stock’s 50-day simple moving average is $29.03 and its 200 day simple moving average is $27.66. The stock has a market capitalization of $896.14 million, a P/E ratio of 11.85 and a beta of 0.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.21 and a current ratio of 1.21.

MetroCity Bankshares (NASDAQ:MCBS) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). MetroCity Bankshares had a net margin of 27.93% and a return on equity of 14.82%. The firm had revenue of $43.74 million during the quarter, compared to the consensus estimate of $44.50 million.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCBS. CWM LLC boosted its stake in shares of MetroCity Bankshares by 78.8% in the 3rd quarter. CWM LLC now owns 955 shares of the company’s stock valued at $26,000 after purchasing an additional 421 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MetroCity Bankshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,969 shares of the company’s stock worth $302,000 after buying an additional 468 shares during the period. Osaic Holdings Inc. increased its stake in shares of MetroCity Bankshares by 0.9% in the second quarter. Osaic Holdings Inc. now owns 58,081 shares of the company’s stock worth $1,660,000 after buying an additional 534 shares during the period. BNP Paribas Financial Markets increased its stake in shares of MetroCity Bankshares by 21.5% in the second quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock worth $87,000 after buying an additional 540 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of MetroCity Bankshares by 15.3% in the fourth quarter. SG Americas Securities LLC now owns 5,429 shares of the company’s stock worth $144,000 after buying an additional 721 shares during the period. 25.33% of the stock is currently owned by institutional investors.

About MetroCity Bankshares

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.