MetroCity Bankshares, Inc. (NASDAQ:MCBS) to Issue $0.25 Quarterly Dividend

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, January 21st. Shareholders of record on Wednesday, February 4th will be given a dividend of 0.25 per share on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, February 4th.

MetroCity Bankshares has increased its dividend by an average of 0.0%annually over the last three years. MetroCity Bankshares has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

Shares of MetroCity Bankshares stock opened at $28.48 on Thursday. The company has a market capitalization of $725.67 million, a price-to-earnings ratio of 11.04 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.27 and a debt-to-equity ratio of 0.95. The stock’s 50-day simple moving average is $26.98 and its 200-day simple moving average is $27.73. MetroCity Bankshares has a 52 week low of $24.24 and a 52 week high of $32.80.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MCBS shares. Keefe, Bruyette & Woods dropped their price target on MetroCity Bankshares from $33.00 to $31.00 and set a “market perform” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c+)” rating on shares of MetroCity Bankshares in a research report on Friday, January 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.00.

MetroCity Bankshares Company Profile

MetroCity Bankshares, Inc is a bank holding company headquartered in Houston, Texas. Through its wholly owned subsidiary, MetroCity Bank, the company provides a range of banking and financial services to individuals and businesses. MetroCity Bankshares focuses on community banking, leveraging local expertise to support the financial needs of the greater Houston metropolitan area.

MetroCity Bank offers traditional deposit products, including checking and savings accounts, money market accounts and certificates of deposit.