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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders 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 dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, April 30th.

MetroCity Bankshares has raised its dividend payment by an average of 21.6% per year over the last three years and has raised 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

NASDAQ MCBS opened at $22.65 on Friday. The company’s 50 day simple moving average is $23.81 and its two-hundred day simple moving average is $22.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.20. MetroCity Bankshares has a 1 year low of $13.10 and a 1 year high of $26.23. The stock has a market capitalization of $571.01 million, a PE ratio of 11.21 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $0.44 earnings per share (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

Several institutional investors have recently bought and sold shares of MCBS. Bank of New York Mellon Corp raised its holdings in MetroCity Bankshares by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 161,255 shares of the company’s stock valued at $3,786,000 after buying an additional 3,702 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in MetroCity Bankshares by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 11,843 shares of the company’s stock worth $278,000 after buying an additional 4,371 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MetroCity Bankshares by 29.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 89,524 shares of the company’s stock worth $2,102,000 after buying an additional 20,336 shares during the last quarter. First Trust Advisors LP lifted its stake in MetroCity Bankshares by 9.8% in the first quarter. First Trust Advisors LP now owns 12,971 shares of the company’s stock worth $305,000 after acquiring an additional 1,154 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in MetroCity Bankshares by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 137,874 shares of the company’s stock worth $3,238,000 after acquiring an additional 1,541 shares during the period. 25.33% of the stock is currently owned by hedge funds and other institutional investors.

MetroCity Bankshares Company Profile

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.