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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.20 per share on Friday, May 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, April 30th.

MetroCity Bankshares has raised 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% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

NASDAQ MCBS opened at $24.07 on Monday. MetroCity Bankshares has a one year low of $13.10 and a one year high of $26.23. The stock has a 50-day moving average of $23.82 and a 200 day moving average of $22.92. The company has a market capitalization of $606.80 million, a price-to-earnings ratio of 12.22 and a beta of 0.57. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.20 and a current ratio of 1.21.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on MetroCity Bankshares from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Tuesday, April 23rd.

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.