MetroCity Bankshares, Inc. (MCBS) to Distribute Quarterly Dividend of $0.29 on August 7th

MetroCity Bankshares, Inc. (NASDAQ:MCBS) declared a quarterly dividend on Wednesday, July 15th. Shareholders of record on Wednesday, July 29th will be given a dividend of 0.29 per share on Friday, August 7th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 29th.

MetroCity Bankshares has increased its dividend by an average of 0.2%annually over the last three years. MetroCity Bankshares has a dividend payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings.

MetroCity Bankshares Stock Up 3.5%

Shares of MCBS opened at $37.07 on Friday. The business’s fifty day moving average price is $34.03 and its two-hundred day moving average price is $30.77. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.38 and a beta of 0.70. MetroCity Bankshares has a 52 week low of $24.53 and a 52 week high of $37.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.21.

MetroCity Bankshares (NASDAQ:MCBS) last released its earnings results on Friday, April 24th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $50.84 million during the quarter, compared to the consensus estimate of $50.80 million. MetroCity Bankshares had a return on equity of 15.09% and a net margin of 28.16%.

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.