Plumas Bancorp (NASDAQ:PLBC) Declares Quarterly Dividend of $0.27

Plumas Bancorp (NASDAQ:PLBC) announced a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.27 per share by the financial services provider on Wednesday, May 15th. This represents a $1.08 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plumas Bancorp has increased its dividend by an average of 40.6% per year over the last three years and has raised its dividend every year for the last 4 years. Plumas Bancorp has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Plumas Bancorp to earn $4.95 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 21.8%.

Plumas Bancorp Trading Up 0.4 %

Shares of NASDAQ PLBC traded up $0.13 during midday trading on Friday, hitting $35.48. The company’s stock had a trading volume of 5,650 shares, compared to its average volume of 6,805. The business’s 50 day moving average is $35.14 and its two-hundred day moving average is $36.23. Plumas Bancorp has a 12-month low of $31.77 and a 12-month high of $45.00. The firm has a market cap of $208.98 million, a P/E ratio of 7.42 and a beta of 0.73.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.23 by $0.04. The company had revenue of $20.01 million for the quarter, compared to the consensus estimate of $20.00 million. Plumas Bancorp had a return on equity of 21.53% and a net margin of 33.12%. On average, analysts predict that Plumas Bancorp will post 4.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PLBC. StockNews.com downgraded Plumas Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Raymond James increased their target price on Plumas Bancorp from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 19th.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Aaron M. Boigon sold 1,600 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $36.89, for a total value of $59,024.00. Following the completion of the sale, the executive vice president now owns 5,600 shares of the company’s stock, valued at approximately $206,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.00% of the company’s stock.

Institutional Trading of Plumas Bancorp

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Plumas Bancorp by 183.8% in the 2nd quarter. Royal Bank of Canada now owns 1,141 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 739 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new position in Plumas Bancorp in the 2nd quarter worth $51,000. Barclays PLC purchased a new position in Plumas Bancorp in the 1st quarter worth $61,000. California State Teachers Retirement System purchased a new position in Plumas Bancorp in the 2nd quarter worth $65,000. Finally, Wells Fargo & Company MN raised its stake in Plumas Bancorp by 6,094.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,106 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 2,072 shares during the last quarter. Institutional investors and hedge funds own 41.68% 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.