MetroCity Bankshares (NASDAQ:MCBS – Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01, Zacks reports. MetroCity Bankshares had a return on equity of 13.85% and a net margin of 24.20%. The firm had revenue of $60.45 million for the quarter.
MetroCity Bankshares Price Performance
MCBS opened at $31.75 on Monday. The company has a market capitalization of $800.29 million, a price-to-earnings ratio of 16.12 and a beta of 0.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92. MetroCity Bankshares has a 12-month low of $19.20 and a 12-month high of $32.87. The business’s fifty day simple moving average is $29.70 and its 200-day simple moving average is $27.12.
MetroCity Bankshares Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This is a positive change from MetroCity Bankshares’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a yield of 2.90%. MetroCity Bankshares’s payout ratio is 40.61%.
Insider Activity at MetroCity Bankshares
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $32.00 price target (up from $28.00) on shares of MetroCity Bankshares in a report on Tuesday, July 23rd.
View Our Latest Research Report on MCBS
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.
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