Plumas Bancorp Announces Quarterly Dividend of $0.27 (NASDAQ:PLBC)

by · The Cerbat Gem

Plumas Bancorp (NASDAQ:PLBC – Get Free Report) announced a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Friday, November 1st will be paid a dividend of 0.27 per share by the financial services provider on Friday, November 15th. This represents a $1.08 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, November 1st.

Plumas Bancorp has raised its dividend payment by an average of 40.6% per year over the last three years. Plumas Bancorp has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Plumas Bancorp to earn $4.15 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 26.0%.

Plumas Bancorp Price Performance

Plumas Bancorp stock opened at $42.56 on Wednesday. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $45.00. The firm’s 50 day simple moving average is $40.61 and its 200-day simple moving average is $37.87. The company has a market cap of $251.10 million, a P/E ratio of 8.93 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. On average, analysts expect that Plumas Bancorp will post 4.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Raymond James upped their price target on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd.

Read Our Latest Stock Analysis on PLBC

Insider Transactions at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.00% of the stock is owned by insiders.

About Plumas Bancorp

(Get Free Report)

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.

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