Plumas Bancorp (NASDAQ:PLBC) Plans Dividend Increase – $0.30 Per Share

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on Friday, January 17th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, February 3rd. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.27.

Plumas Bancorp has raised its dividend payment by an average of 24.5% per year over the last three years. Plumas Bancorp has a dividend payout ratio of 22.7% meaning 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 Plumas Bancorp stock traded up $1.36 during trading on Friday, reaching $46.94. 10,188 shares of the company traded hands, compared to its average volume of 10,694. The firm has a market capitalization of $276.95 million, a PE ratio of 9.84 and a beta of 0.71. The company has a 50 day moving average price of $47.16 and a 200-day moving average price of $42.49. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Plumas Bancorp will post 4.72 earnings per share for the current year.

Insider Buying and Selling

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.