MetroCity Bankshares, Inc. Declares Quarterly Dividend of $0.25 (NASDAQ:MCBS)

Key Points

• MetroCity Bankshares, Inc. declared a quarterly dividend of $0.25 per share, with an annualized yield of 3.8%, scheduled for payment to investors on November 7th.
• The company has a strong dividend payout ratio of 32.6%, indicating good earnings coverage for its dividend payments.
• MetroCity Bankshares reported quarterly earnings of $0.65 per share, exceeding analysts' expectations and achieving a net margin of 27.98% for the period.

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) announced a quarterly dividend on Wednesday, October 15th. Investors of record on Wednesday, October 29th will be given a dividend of 0.25 per share on Friday, November 7th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, October 29th.

MetroCity Bankshares has a dividend payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

MetroCity Bankshares stock opened at $26.47 on Thursday. The company has a market cap of $676.04 million, a price-to-earnings ratio of 10.34 and a beta of 0.64. The firm's fifty day moving average is $28.55 and its 200 day moving average is $28.25. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 0.97. MetroCity Bankshares has a 52-week low of $24.24 and a 52-week high of $36.15.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $37.91 million for the quarter, compared to the consensus estimate of $36.10 million. MetroCity Bankshares had a net margin of 27.98% and a return on equity of 15.61%.

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.

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