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

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) announced a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders 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 yield of 3.04%. The ex-dividend date is Tuesday, April 30th.

Plumas Bancorp has raised its dividend by an average of 40.6% per year 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 Stock Up 0.4 %

NASDAQ PLBC traded up $0.13 during trading hours on Friday, hitting $35.48. 5,650 shares of the company were exchanged, compared to its average volume of 6,805. The company has a 50 day moving average of $35.14 and a two-hundred day moving average of $36.23. Plumas Bancorp has a 52-week low of $31.77 and a 52-week high of $45.00. The firm has a market cap of $208.98 million, a price-to-earnings ratio of 7.42 and a beta of 0.73.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James increased their price objective on Plumas Bancorp from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, January 19th. StockNews.com downgraded Plumas Bancorp from a "hold" rating to a "sell" rating in a report on Thursday.

Insider Activity

In related news, EVP Aaron M. Boigon sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $36.89, for a total transaction of $59,024.00. Following the transaction, the executive vice president now owns 5,600 shares in the company, valued at approximately $206,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Plumas Bancorp by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 64,875 shares of the financial services provider's stock worth $2,315,000 after buying an additional 300 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Plumas Bancorp by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 12,245 shares of the financial services provider's stock worth $466,000 after buying an additional 321 shares during the last quarter. First Trust Advisors LP lifted its position in Plumas Bancorp by 2.5% during the 4th quarter. First Trust Advisors LP now owns 13,389 shares of the financial services provider's stock worth $554,000 after acquiring an additional 327 shares during the period. UBS Group AG lifted its position in Plumas Bancorp by 12.4% during the 3rd quarter. UBS Group AG now owns 4,435 shares of the financial services provider's stock worth $126,000 after acquiring an additional 490 shares during the period. Finally, Geode Capital Management LLC lifted its position in Plumas Bancorp by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 46,287 shares of the financial services provider's stock worth $1,577,000 after acquiring an additional 544 shares during the period. Hedge funds and other 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.