MetroCity Bankshares, Inc. Announces 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 given a dividend of 0.20 per share on Friday, May 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 30th.

MetroCity Bankshares has increased its dividend payment 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% meaning its dividend is sufficiently covered by earnings.

MetroCity Bankshares Trading Up 0.9 %

MCBS stock opened at $24.07 on Friday. The company has a market cap of $606.80 million, a P/E ratio of 12.22 and a beta of 0.57. MetroCity Bankshares has a twelve month low of $13.10 and a twelve month high of $26.23. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $23.82 and a 200-day moving average of $22.90.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price objective on MetroCity Bankshares from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Tuesday, April 23rd.

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.