MetroCity Bankshares, Inc. (MCBS) To Go Ex-Dividend on July 31st

MetroCity Bankshares, Inc. (NASDAQ:MCBS) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.20 per share on Friday, August 9th. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date is Wednesday, July 31st.

MetroCity Bankshares has increased its dividend by an average of 21.6% annually over the last three years. MetroCity Bankshares has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings.

MetroCity Bankshares Price Performance

NASDAQ:MCBS opened at $31.97 on Monday. The stock’s 50-day simple moving average is $26.07 and its 200 day simple moving average is $24.73. MetroCity Bankshares has a 52-week low of $18.81 and a 52-week high of $32.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.20 and a current ratio of 1.22. The company has a market cap of $805.96 million, a P/E ratio of 16.23 and a beta of 0.60.

MetroCity Bankshares (NASDAQ:MCBS) last issued its earnings results on Friday, July 19th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $59.67 million for the quarter. MetroCity Bankshares had a net margin of 24.20% and a return on equity of 14.02%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $32.00 price target (up previously from $28.00) on shares of MetroCity Bankshares in a research note on Tuesday, July 23rd.

Insider Transactions at MetroCity Bankshares

In other MetroCity Bankshares news, Director Sam Sang-Koo Shim bought 1,420 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $24.00 per share, for a total transaction of $34,080.00. Following the transaction, the director now directly owns 625,016 shares in the company, valued at approximately $15,000,384. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Don Leung sold 68,321 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $28.59, for a total value of $1,953,297.39. Following the completion of the transaction, the director now directly owns 931,467 shares in the company, valued at approximately $26,630,641.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sam Sang-Koo Shim acquired 1,420 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $24.00 per share, for a total transaction of $34,080.00. Following the completion of the purchase, the director now directly owns 625,016 shares of the company’s stock, valued at $15,000,384. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 139,442 shares of company stock worth $4,088,089. Company insiders own 27.49% of the company’s stock.

MetroCity Bankshares Company Profile

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.