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

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 increased 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 payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Stock Up 0.0 %

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

MetroCity Bankshares (NASDAQ:MCBS) last released 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 business had revenue of $55.38 million for the quarter.

Institutional Investors Weigh In On MetroCity Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCBS. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 2,050 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of MetroCity Bankshares by 428.3% in the second quarter. Goldman Sachs Group Inc. now owns 54,937 shares of the company’s stock valued at $1,116,000 after acquiring an additional 44,538 shares during the period. Millennium Management LLC raised its stake in shares of MetroCity Bankshares by 276.1% in the second quarter. Millennium Management LLC now owns 59,420 shares of the company’s stock valued at $1,207,000 after acquiring an additional 43,622 shares during the period. Renaissance Technologies LLC purchased a new position in shares of MetroCity Bankshares during the 2nd quarter worth about $313,000. Finally, Rhumbline Advisers grew its holdings in MetroCity Bankshares by 33.3% during the 2nd quarter. Rhumbline Advisers now owns 24,807 shares of the company’s stock valued at $504,000 after purchasing an additional 6,202 shares during the last quarter. 25.33% of the stock is currently owned by hedge funds and other institutional investors.

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.