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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors 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 yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 30th.

MetroCity Bankshares has raised its dividend by an average of 21.6% per year 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 Stock Up 0.9 %

Shares of MCBS stock opened at $24.07 on Monday. The stock has a 50 day moving average of $23.82 and a 200 day moving average of $22.92. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.85. The stock 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.

Analyst Upgrades and Downgrades

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

About MetroCity Bankshares

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.