MetroCity Bankshares, Inc. (NASDAQ:MCBS – Get Free Report) announced 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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend 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 payment by an average of 0.2% annually over the last three years. MetroCity Bankshares has a dividend payout ratio of 44.0% indicating that its dividend is sufficiently covered by earnings.
MetroCity Bankshares Price Performance
NASDAQ:MCBS opened at $35.86 on Monday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 11.76 and a beta of 0.66. MetroCity Bankshares has a one year low of $24.53 and a one year high of $37.46. The firm’s fifty day moving average is $35.10 and its two-hundred day moving average is $32.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.21.
MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) last issued its quarterly earnings results on Friday, October 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.84. MetroCity Bankshares had a return on equity of 15.68% and a net margin of 29.44%. The firm had revenue of $47.94 million for the quarter, compared to analyst estimates of $51.30 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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