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

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders 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 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 raised its dividend annually for the last 4 consecutive years. Plumas Bancorp has a dividend 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 Price Performance

Shares of NASDAQ PLBC traded up $0.13 during mid-day 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 stock has a market cap of $208.98 million, a price-to-earnings ratio of 7.42 and a beta of 0.73. Plumas Bancorp has a one year low of $31.77 and a one year high of $45.00. The company’s fifty day simple moving average is $35.14 and its 200-day simple moving average is $36.23.

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

Analyst Upgrades and Downgrades

PLBC has been the topic of several recent research reports. Raymond James raised their target price on shares of Plumas Bancorp from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. StockNews.com lowered shares of Plumas Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday.

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, EVP Aaron M. Boigon sold 1,600 shares of Plumas Bancorp stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $36.89, for a total value of $59,024.00. Following the transaction, the executive vice president now owns 5,600 shares of the company’s stock, valued at $206,584. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PLBC. BlackRock Inc. raised its holdings in shares of Plumas Bancorp by 1,113.7% in the second quarter. BlackRock Inc. now owns 268,637 shares of the financial services provider’s stock valued at $9,588,000 after purchasing an additional 246,504 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Plumas Bancorp by 115.8% in the second quarter. Geode Capital Management LLC now owns 99,870 shares of the financial services provider’s stock valued at $3,564,000 after purchasing an additional 53,583 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Plumas Bancorp by 28.1% in the first quarter. Vanguard Group Inc. now owns 234,448 shares of the financial services provider’s stock valued at $8,933,000 after purchasing an additional 51,497 shares during the last quarter. State Street Corp raised its holdings in shares of Plumas Bancorp by 253.3% in the second quarter. State Street Corp now owns 60,925 shares of the financial services provider’s stock valued at $2,174,000 after purchasing an additional 43,680 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Plumas Bancorp by 382.9% during the second quarter. Northern Trust Corp now owns 43,344 shares of the financial services provider’s stock worth $1,547,000 after buying an additional 34,369 shares during the last quarter. Institutional investors 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.