Plumas Bancorp (NASDAQ:PLBC) Plans Quarterly Dividend of $0.30

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Thursday, May 1st will be given a dividend of 0.30 per share by the financial services provider on Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, May 1st.

Plumas Bancorp has increased its dividend payment by an average of 11.8% per year over the last three years. Plumas Bancorp has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Plumas Bancorp to earn $5.53 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.7%.

Plumas Bancorp Price Performance

Shares of PLBC traded up $1.49 during mid-day trading on Tuesday, hitting $42.16. 3,003 shares of the company's stock were exchanged, compared to its average volume of 10,993. The company has a 50-day simple moving average of $43.13 and a 200 day simple moving average of $44.71. The company has a market cap of $249.59 million, a PE ratio of 8.80 and a beta of 0.55. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. The firm had revenue of $21.50 million for the quarter, compared to analysts' expectations of $20.62 million. During the same period in the previous year, the firm posted $1.05 EPS. On average, analysts anticipate that Plumas Bancorp will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on PLBC shares. Piper Sandler decreased their price objective on shares of Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Raymond James restated an "outperform" rating and set a $54.00 price objective (up from $49.00) on shares of Plumas Bancorp in a research report on Thursday, January 30th.

Insider Transactions at Plumas Bancorp

In related news, Director Michael Kevin Foster bought 1,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $45.67 per share, with a total value of $45,670.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $45,670. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 9.00% of the stock is currently owned by insiders.

Plumas Bancorp Company Profile

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.