MetroCity Bankshares, Inc. (NASDAQ:MCBS) Announces Quarterly Dividend of $0.31

MetroCity Bankshares, Inc. (NASDAQ:MCBS) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Wednesday, November 4th will be paid a dividend of $0.31 per share on Friday, November 13th. This represents a $1.24 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, November 4th. This is a 6.9% increase from MetroCity Bankshares’s previous quarterly dividend of $0.29.

MetroCity Bankshares has raised its dividend payment by an average of 0.2% per year 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 3.1%

NASDAQ MCBS traded up $1.08 on Thursday, reaching $35.59. The stock had a trading volume of 60,440 shares, compared to its average volume of 88,280. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 12.36 and a beta of 0.70. The business has a 50 day moving average price of $35.11 and a 200 day moving average price of $34.24. MetroCity Bankshares has a 1 year low of $24.53 and a 1 year high of $37.46.

MetroCity Bankshares (NASDAQ:MCBS) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.05). MetroCity Bankshares had a net margin of 28.40% and a return on equity of 15.16%. The business had revenue of $49.80 million during the quarter, compared to the consensus estimate of $52.40 million.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc is the bank holding company for Metro City Bank, a community bank headquartered in the Atlanta metropolitan area. The bank provides traditional banking services to businesses, individuals and community organizations, with a particular focus on Korean American and other multicultural communities.

Metro City Bank offers commercial and consumer deposit accounts, commercial real estate and commercial business loans, residential mortgage loans, construction lending, home equity products and other consumer credit products.