Plumas Bancorp (PLBC) to Issue Quarterly Dividend of $0.27 on November 15th

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Friday, November 1st will be given a dividend of 0.27 per share by the financial services provider on Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, November 1st.

Plumas Bancorp has increased its dividend payment by an average of 40.6% per year over the last three years. Plumas Bancorp has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Plumas Bancorp to earn $4.15 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 26.0%.

Plumas Bancorp Price Performance

PLBC stock opened at $42.56 on Wednesday. The firm has a market cap of $251.10 million, a price-to-earnings ratio of 8.93 and a beta of 0.68. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $45.00. The firm has a fifty day moving average price of $40.61 and a two-hundred day moving average price of $37.87.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. The business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. As a group, analysts expect that Plumas Bancorp will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total value of $106,204.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James boosted their price objective on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd.

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.