Plumas Bancorp (NASDAQ:PLBC) Shares Will Pay Quarterly Dividend of $0.33

Key Points

• Plumas Bancorp declared a quarterly dividend of $0.33 per share, payable November 17 to shareholders of record on November 3. The dividend equates to $1.32 annually and a 2.1% yield.
• The dividend appears well covered, with a 23.2% payout ratio and an expected future payout ratio of 22.4%. The company has raised its dividend for the past year.
• Plumas Bancorp reported quarterly EPS of $1.61, surpassing analysts’ $1.46 estimate, while revenue of $29.33 million also exceeded expectations.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.33 per share by the financial services provider on Tuesday, November 17th. This represents a $1.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, November 3rd.

Plumas Bancorp has increased its dividend payment by an average of 0.3% annually over the last three years and has raised its dividend every year for the last 1 years. Plumas Bancorp has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Plumas Bancorp to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 22.4%.

Plumas Bancorp Price Performance

Shares of NASDAQ:PLBC opened at $63.49 on Friday. The company's fifty day moving average price is $62.01 and its 200-day moving average price is $57.96. The firm has a market capitalization of $441.89 million, a price-to-earnings ratio of 10.58 and a beta of 0.59. Plumas Bancorp has a one year low of $39.80 and a one year high of $64.30. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.15. The business had revenue of $29.33 million for the quarter, compared to analyst estimates of $29.03 million. Plumas Bancorp had a return on equity of 15.82% and a net margin of 31.72%. On average, equities research analysts anticipate that Plumas Bancorp will post 5.77 earnings per share for the current fiscal year.

Insider Transactions at Plumas Bancorp

In other news, EVP Kevin Kaiser sold 1,200 shares of Plumas Bancorp stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total value of $73,800.00. Following the transaction, the executive vice president directly owned 719 shares in the company, valued at approximately $44,218.50. This trade represents a 62.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plumas Bancorp

Hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Plumas Bancorp in the 2nd quarter valued at about $26,754,000. The Manufacturers Life Insurance Company acquired a new position in shares of Plumas Bancorp in the second quarter worth $13,704,000. De Lisle Partners LLP purchased a new position in shares of Plumas Bancorp in the 2nd quarter valued at about $13,318,000. Punch & Associates Investment Management Inc. purchased a new position in Plumas Bancorp in the second quarter valued at $3,829,000. Finally, Rice Hall James & Associates LLC purchased a new stake in Plumas Bancorp during the second quarter worth approximately $2,479,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Plumas Bancorp Company Profile

Plumas Bancorp is the bank holding company for Plumas Bank, a community bank headquartered in Reno, Nevada. Plumas Bank was founded in 1980 in Quincy, California, and serves individuals, families, businesses and organizations through banking offices and digital banking services.

The bank provides a range of financial products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing, business loans, agricultural lending and lines of credit.

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