MetroCity Bankshares, Inc. (NASDAQ:MCBS) Announces Quarterly Dividend of $0.20

MetroCity Bankshares, Inc. (NASDAQ:MCBS - Get Free Report) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders 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 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, April 30th.

MetroCity Bankshares has raised its dividend by an average of 21.6% per year over the last three years and has raised its dividend every year for the last 4 years. MetroCity Bankshares has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

Shares of MetroCity Bankshares stock traded up $1.07 on Friday, hitting $23.72. 21,151 shares of the company traded hands, compared to its average volume of 21,449. MetroCity Bankshares has a 52 week low of $13.10 and a 52 week high of $26.23. The business has a 50-day simple moving average of $23.80 and a 200 day simple moving average of $22.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.21. The stock has a market capitalization of $597.98 million, a P/E ratio of 11.74 and a beta of 0.57.

MetroCity Bankshares (NASDAQ:MCBS - Get Free Report) last posted its earnings results on Tuesday, January 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). MetroCity Bankshares had a net margin of 24.44% and a return on equity of 13.83%. The company had revenue of $55.38 million for the quarter.

Institutional Trading of MetroCity Bankshares

Several hedge funds have recently modified their holdings of MCBS. Vanguard Group Inc. increased its holdings in shares of MetroCity Bankshares by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 966,156 shares of the company's stock worth $23,207,000 after buying an additional 70,536 shares during the last quarter. Barclays PLC raised its position in MetroCity Bankshares by 343.6% during the fourth quarter. Barclays PLC now owns 28,670 shares of the company's stock valued at $690,000 after purchasing an additional 22,207 shares during the period. Voya Investment Management LLC bought a new stake in shares of MetroCity Bankshares in the 4th quarter valued at approximately $237,000. Nuveen Asset Management LLC boosted its holdings in shares of MetroCity Bankshares by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 65,087 shares of the company's stock worth $1,563,000 after purchasing an additional 964 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of MetroCity Bankshares by 7.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 50,576 shares of the company's stock valued at $1,215,000 after purchasing an additional 3,648 shares during the last quarter. 25.33% of the stock is owned by hedge funds and other institutional investors.

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.