Plumas Bancorp (NASDAQ:PLBC) Raises Dividend to $0.30 Per Share

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Investors of record on Monday, February 3rd will be given a dividend of 0.30 per share by the financial services provider on Monday, February 17th. This represents a $1.20 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27.

Plumas Bancorp has raised its dividend payment by an average of 24.5% annually over the last three years. Plumas Bancorp has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Plumas Bancorp to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 24.3%.

Plumas Bancorp Price Performance

Plumas Bancorp stock traded up $1.36 during trading hours on Friday, hitting $46.94. The stock had a trading volume of 10,188 shares, compared to its average volume of 10,699. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $51.33. The stock has a market capitalization of $276.95 million, a price-to-earnings ratio of 9.84 and a beta of 0.71. The stock’s fifty day moving average is $47.16 and its two-hundred day moving average is $42.49.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. As a group, sell-side analysts anticipate that Plumas Bancorp will post 4.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLBC. Stephens assumed coverage on shares of Plumas Bancorp in a research note on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price objective for the company. Raymond James reissued an “outperform” rating and issued a $49.00 price target (up from $45.00) on shares of Plumas Bancorp in a report on Thursday.

Insiders Place Their Bets

In other news, EVP Bj North sold 2,496 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total transaction of $106,204.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.00% of the stock is owned by corporate insiders.

About Plumas Bancorp

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.