MetroCity Bankshares, Inc. (MCBS) to Issue Quarterly Dividend of $0.20 on May 10th

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, April 30th.

MetroCity Bankshares has increased its dividend by an average of 21.6% annually 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 Trading Up 1.4 %

Shares of MCBS stock opened at $22.96 on Friday. The firm’s 50-day simple moving average is $23.81 and its 200-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 firm has a market cap of $578.82 million, a P/E ratio of 11.21 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). MetroCity Bankshares had a return on equity of 13.83% and a net margin of 24.44%. The company had revenue of $55.38 million for the quarter.

Institutional Investors Weigh In On MetroCity Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCBS. Vanguard Group Inc. raised its stake in shares of MetroCity Bankshares by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 966,156 shares of the company’s stock valued at $23,207,000 after acquiring an additional 70,536 shares during the period. BlackRock Inc. grew its stake in shares of MetroCity Bankshares by 4.4% during the second quarter. BlackRock Inc. now owns 1,263,093 shares of the company’s stock valued at $22,597,000 after acquiring an additional 53,106 shares in the last quarter. First Trust Advisors LP increased its position in shares of MetroCity Bankshares by 435.8% during the third quarter. First Trust Advisors LP now owns 57,865 shares of the company’s stock worth $1,136,000 after acquiring an additional 47,065 shares during the last quarter. Goldman Sachs Group Inc. lifted 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 worth $1,116,000 after acquiring an additional 44,538 shares in the last quarter. Finally, Millennium Management LLC lifted 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 worth $1,207,000 after acquiring an additional 43,622 shares in the last quarter. 25.33% of the stock is currently owned by institutional investors and hedge funds.

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.