MetroCity Bankshares, Inc. (NASDAQ:MCBS) to Issue Quarterly Dividend of $0.29

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

MetroCity Bankshares has raised its dividend by an average of 0.2%per year over the last three years. MetroCity Bankshares has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

Shares of MCBS opened at $35.83 on Thursday. 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 $1.03 billion, a PE ratio of 12.94 and a beta of 0.70. The firm has a fifty day moving average price of $33.94 and a 200 day moving average price of $30.70.

MetroCity Bankshares (NASDAQ:MCBS) last issued its quarterly earnings data on Friday, April 24th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. MetroCity Bankshares had a return on equity of 15.09% and a net margin of 28.16%.The company had revenue of $50.84 million for the quarter, compared to analyst estimates of $50.80 million.

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.