Plumas Bancorp (NASDAQ:PLBC) to Issue Dividend Increase - $0.30 Per Share

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) announced a quarterly dividend on Friday, January 17th,Wall Street Journal reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.30 per share by the financial services provider on Monday, February 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, February 3rd. This is an increase from Plumas Bancorp's previous quarterly dividend of $0.27.

Plumas Bancorp has raised its dividend by an average of 24.5% annually over the last three years. Plumas Bancorp has a dividend payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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

Shares of PLBC stock traded up $1.36 on Friday, hitting $46.94. 10,188 shares of the company's stock were exchanged, compared to its average volume of 10,694. The company has a 50 day moving average of $47.16 and a 200 day moving average of $42.49. The stock has a market cap of $276.95 million, a P/E ratio of 9.84 and a beta of 0.71. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share 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%. Sell-side analysts predict that Plumas Bancorp will post 4.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 value of $106,204.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Raymond James reissued an "outperform" rating and set a $49.00 price objective (up previously from $45.00) on shares of Plumas Bancorp in a report on Thursday. Stephens began coverage on shares of Plumas Bancorp in a research report on Wednesday, November 27th. They set an "overweight" rating and a $60.00 target price on the stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.