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

Plumas Bancorp (NASDAQ:PLBC) announced a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.27.

Plumas Bancorp has increased 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. 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 Stock Performance

Plumas Bancorp stock traded up $1.36 during midday trading on Friday, reaching $46.94. The stock had a trading volume of 10,188 shares, compared to its average volume of 10,699. The stock’s 50-day simple moving average is $47.16 and its 200 day simple moving average is $42.49. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33. The stock has a market capitalization of $276.95 million, a PE ratio of 9.84 and a beta of 0.71.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. Equities analysts predict that Plumas Bancorp will post 4.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, EVP Bj North sold 2,496 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was 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 is accessible through 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.