MetroCity Bankshares, Inc. (NASDAQ:MCBS – Get Free Report) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Wednesday, November 4th will be given a dividend of $0.31 per share on Friday, November 13th. This represents a $1.24 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, November 4th. This is a 6.9% increase from MetroCity Bankshares’s previous quarterly dividend of $0.29.
MetroCity Bankshares has raised its dividend by an average of 0.2% annually over the last three years. MetroCity Bankshares has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings.
MetroCity Bankshares Price Performance
Shares of MCBS opened at $35.43 on Friday. MetroCity Bankshares has a fifty-two week low of $24.53 and a fifty-two week high of $37.46. The firm’s 50 day moving average price is $35.09 and its 200 day moving average price is $34.28. The company has a market cap of $1.02 billion, a P/E ratio of 11.98 and a beta of 0.70. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.66.
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last released its earnings results on Friday, July 24th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.05). MetroCity Bankshares had a return on equity of 15.16% and a net margin of 28.40%. The business had revenue of $49.80 million for the quarter, compared to analyst estimates of $52.40 million.
MetroCity Bankshares Company Profile
MetroCity Bankshares, Inc is the bank holding company for Metro City Bank, a community bank headquartered in the Atlanta metropolitan area. The bank provides traditional banking services to businesses, individuals and community organizations, with a particular focus on Korean American and other multicultural communities.
Metro City Bank offers commercial and consumer deposit accounts, commercial real estate and commercial business loans, residential mortgage loans, construction lending, home equity products and other consumer credit products.
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