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

Plumas Bancorp (NASDAQ:PLBC) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Wednesday, May 1st will be given 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 yield of 3.04%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plumas Bancorp has increased its dividend payment by an average of 40.6% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Plumas Bancorp has a payout ratio of 21.8% indicating that 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 %

PLBC stock traded up $0.13 on Friday, hitting $35.48. 5,650 shares of the company’s stock traded hands, compared to its average volume of 6,805. Plumas Bancorp has a 1-year low of $31.77 and a 1-year high of $45.00. The stock has a market cap of $208.98 million, a price-to-earnings ratio of 7.42 and a beta of 0.73. The stock has a fifty day moving average of $35.14 and a 200-day moving average of $36.23.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PLBC. StockNews.com lowered shares of Plumas Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Raymond James boosted their price target on shares of Plumas Bancorp from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, January 19th.

Insider Activity

In other news, EVP Aaron M. Boigon sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $36.89, for a total transaction of $59,024.00. Following the sale, the executive vice president now owns 5,600 shares in the company, valued at $206,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Plumas Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 278,382 shares of the financial services provider’s stock worth $11,511,000 after purchasing an additional 2,074 shares during the last quarter. Barclays PLC increased its stake in shares of Plumas Bancorp by 621.0% during the 4th quarter. Barclays PLC now owns 7,520 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 6,477 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Plumas Bancorp by 49.7% during the 4th quarter. Nuveen Asset Management LLC now owns 10,795 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 3,585 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Plumas Bancorp during the 4th quarter worth $309,000. Finally, Royal Bank of Canada increased its stake in shares of Plumas Bancorp by 210.8% during the 4th quarter. Royal Bank of Canada now owns 4,128 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

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.