Plumas Bancorp (NASDAQ:PLBC) Announces $0.27 Quarterly Dividend

Plumas Bancorp (NASDAQ:PLBC) announced a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend 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% annually over the last three years and has increased its dividend every year for the last 4 years. Plumas Bancorp has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Research 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 %

NASDAQ PLBC traded up $0.13 during trading on Friday, hitting $35.48. 5,650 shares of the company traded hands, compared to its average volume of 6,805. Plumas Bancorp has a 12 month low of $31.77 and a 12 month high of $45.00. The business has a fifty day simple moving average of $35.14 and a 200 day simple moving average of $36.23. The company has a market capitalization of $208.98 million, a P/E ratio of 7.42 and a beta of 0.73.

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

Insider Buying and Selling

In related news, EVP Aaron M. Boigon sold 1,600 shares of Plumas Bancorp stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $36.89, for a total transaction of $59,024.00. Following the sale, the executive vice president now directly owns 5,600 shares of the company’s stock, valued at $206,584. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 9.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Plumas Bancorp by 183.8% during the second quarter. Royal Bank of Canada now owns 1,141 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 739 shares in the last quarter. BNP Paribas Arbitrage SNC acquired a new stake in Plumas Bancorp during the second quarter valued at approximately $51,000. Barclays PLC acquired a new stake in Plumas Bancorp during the first quarter valued at approximately $61,000. California State Teachers Retirement System acquired a new stake in Plumas Bancorp during the second quarter valued at approximately $65,000. Finally, Wells Fargo & Company MN boosted its holdings in Plumas Bancorp by 6,094.1% during the second quarter. Wells Fargo & Company MN now owns 2,106 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 2,072 shares in the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.