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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, July 15th. Stockholders of record on Wednesday, July 29th will be paid a dividend of 0.29 per share on Friday, August 7th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 29th.

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

MetroCity Bankshares Stock Performance

Shares of MetroCity Bankshares stock opened at $36.57 on Monday. The firm’s 50-day moving average is $34.58 and its 200 day moving average is $31.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.21 and a quick ratio of 1.20. MetroCity Bankshares has a 1 year low of $24.53 and a 1 year high of $37.46. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 12.70 and a beta of 0.70.

MetroCity Bankshares (NASDAQ:MCBS) last released 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 15.55%. The company had revenue of $49.80 million for the quarter, compared to analysts’ expectations of $52.40 million.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of MetroCity Bankshares from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “buy (b)” rating on shares of MetroCity Bankshares in a report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price target on MetroCity Bankshares from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, MetroCity Bankshares presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

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.