MetroCity Bankshares, Inc. (MCBS) to Issue Quarterly Dividend of $0.20 on May 10th

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

MetroCity Bankshares has increased its dividend 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 dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

MetroCity Bankshares stock opened at $24.07 on Friday. MetroCity Bankshares has a 52 week low of $13.10 and a 52 week 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 firm’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $22.90. The firm has a market capitalization of $606.80 million, a PE ratio of 12.22 and a beta of 0.57.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their target price on shares of MetroCity Bankshares from $27.00 to $28.00 and gave the company a “market perform” rating in a research note 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.