Plumas Bancorp (PLBC) to Issue Quarterly Dividend of $0.30 on May 15th

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on Thursday, April 17th, RTT News reports. Stockholders 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 2.92%.

Plumas Bancorp has increased its dividend payment by an average of 11.8% per year over the last three years. Plumas Bancorp has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Plumas Bancorp stock opened at $41.08 on Friday. The stock has a 50-day simple moving average of $43.22 and a 200-day simple moving average of $44.62. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33. The firm has a market cap of $243.19 million, a price-to-earnings ratio of 8.58 and a beta of 0.55.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. The business had revenue of $21.50 million during the quarter, compared to analyst estimates of $20.62 million. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities research analysts predict that Plumas Bancorp will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

PLBC has been the subject of several analyst reports. Raymond James restated an “outperform” rating and issued a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th. Piper Sandler decreased their price objective on shares of Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday.

Insiders Place Their Bets

In other news, Director Michael Kevin Foster purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $45,670. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 9.00% of the company’s stock.

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.