Plumas Bancorp Declares Quarterly Dividend of $0.30 (NASDAQ:PLBC)

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Friday, August 1st will be paid a dividend of 0.30 per share by the financial services provider on Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, August 1st.

Plumas Bancorp has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Plumas Bancorp to earn $5.53 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.7%.

Plumas Bancorp Stock Up 0.2%

Shares of NASDAQ:PLBC traded up $0.10 during trading on Friday, hitting $42.09. 13,778 shares of the company were exchanged, compared to its average volume of 12,232. The business's 50 day moving average is $44.13 and its 200-day moving average is $44.02. The company has a market capitalization of $249.59 million, a P/E ratio of 8.68 and a beta of 0.61. Plumas Bancorp has a 1-year low of $35.76 and a 1-year high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.15). Plumas Bancorp had a return on equity of 15.94% and a net margin of 30.81%. The company had revenue of $20.54 million for the quarter, compared to analyst estimates of $21.00 million. During the same quarter last year, the company posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Plumas Bancorp will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Plumas Bancorp

In other news, Director Michael Kevin Foster purchased 581 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $43.99 per share, with a total value of $25,558.19. Following the completion of the transaction, the director owned 1,581 shares of the company's stock, valued at $69,548.19. The trade was a 58.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

A hedge fund recently bought a new stake in Plumas Bancorp stock. Jane Street Group LLC bought a new position in Plumas Bancorp (NASDAQ:PLBC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,898 shares of the financial services provider's stock, valued at approximately $255,000. Jane Street Group LLC owned about 0.10% of Plumas Bancorp at the end of the most recent reporting period. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Raymond James Financial reissued an "outperform" rating and issued a $50.00 price objective (up previously from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th. Piper Sandler reduced their price objective on shares of Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday.

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.