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

MetroCity Bankshares, Inc. (NASDAQ:MCBS) declared a quarterly dividend on Wednesday, January 21st. Investors 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 dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, February 4th.

MetroCity Bankshares has raised 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 Stock Performance

MetroCity Bankshares stock opened at $28.48 on Thursday. The firm has a market capitalization of $725.67 million, a P/E ratio of 11.04 and a beta of 0.72. The company’s 50-day moving average is $26.98 and its 200 day moving average is $27.73. MetroCity Bankshares has a 1-year low of $24.24 and a 1-year high of $32.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.27 and a quick ratio of 1.18.

Institutional Trading of MetroCity Bankshares

A number of hedge funds have recently bought and sold shares of MCBS. CWM LLC lifted its stake in shares of MetroCity Bankshares by 78.8% during the 3rd quarter. CWM LLC now owns 955 shares of the company’s stock worth $26,000 after purchasing an additional 421 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of MetroCity Bankshares in the 3rd quarter valued at about $28,000. Russell Investments Group Ltd. bought a new stake in shares of MetroCity Bankshares in the 3rd quarter valued at about $45,000. BNP Paribas Financial Markets grew its position in shares of MetroCity Bankshares by 21.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,057 shares of the company’s stock worth $87,000 after buying an additional 540 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of MetroCity Bankshares by 69.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,608 shares of the company’s stock worth $103,000 after acquiring an additional 1,476 shares in the last quarter. Hedge funds and other institutional investors own 25.33% of the company’s stock.

About MetroCity Bankshares

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.