MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) announced a quarterly dividend on Wednesday, July 16th, RTT News reports. Shareholders of record on Wednesday, July 30th will be given a dividend of 0.25 per share on Friday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 3.45%. This is a 8.7% increase from MetroCity Bankshares's previous quarterly dividend of $0.23.
MetroCity Bankshares has a dividend payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings.
MetroCity Bankshares Trading Up 1.7%
MCBS traded up $0.48 during trading on Wednesday, reaching $28.95. 36,282 shares of the company's stock were exchanged, compared to its average volume of 41,508. The company's fifty day moving average price is $28.46 and its 200-day moving average price is $28.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.25 and a current ratio of 1.26. MetroCity Bankshares has a fifty-two week low of $24.24 and a fifty-two week high of $36.15. The firm has a market capitalization of $735.33 million, a PE ratio of 11.26 and a beta of 0.61.
MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last released its earnings results on Friday, April 18th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a net margin of 28.03% and a return on equity of 15.91%. The firm had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.20 million.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods reduced their price target on shares of MetroCity Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd.
Check Out Our Latest Research Report on MCBS
Hedge Funds Weigh In On MetroCity Bankshares
An institutional investor recently bought a new position in MetroCity Bankshares stock. Jane Street Group LLC purchased a new position in shares of MetroCity Bankshares, Inc. (NASDAQ:MCBS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,007 shares of the company's stock, valued at approximately $717,000. Jane Street Group LLC owned approximately 0.10% of MetroCity Bankshares as of its most recent SEC filing. 25.33% of the stock is currently owned by hedge funds and other institutional investors.
MetroCity Bankshares Company Profile
(
Get Free Report)
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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