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

Key Points

• Plumas Bancorp announced a quarterly dividend of $0.30 per share, payable on November 17th to investors of record by November 3rd, with a current annualized dividend yield of 2.8%.
• The company reported earnings of $1.35 per share for the last quarter, exceeding analysts' expectations of $0.66, and has a payout ratio of 21.1%, indicating strong dividend sustainability.
• Plumas Bancorp's stock has experienced fluctuations, recently trading at $42.11, with a market capitalization of approximately $292.54 million and a PE ratio of 8.68.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) announced a quarterly dividend on Thursday, October 16th. Investors of record on Monday, November 3rd will be paid a dividend of 0.30 per share by the financial services provider on Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, November 3rd.

Plumas Bancorp has a payout ratio of 21.1% meaning 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 Performance

Plumas Bancorp stock traded down $0.69 during mid-day trading on Thursday, reaching $42.11. 25,812 shares of the company were exchanged, compared to its average volume of 13,038. The firm has a market cap of $292.54 million, a PE ratio of 8.68 and a beta of 0.68. The firm's 50-day simple moving average is $42.91 and its two-hundred day simple moving average is $43.07. Plumas Bancorp has a twelve month low of $38.71 and a twelve month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.69. Plumas Bancorp had a return on equity of 15.71% and a net margin of 30.81%.The firm had revenue of $27.42 million during the quarter, compared to the consensus estimate of $28.07 million. As a group, equities research analysts anticipate that Plumas Bancorp will post 4.51 EPS for the current year.

Insider Activity at Plumas Bancorp

In related news, Director Michael Kevin Foster acquired 749 shares of the business's stock in a transaction dated Monday, July 21st. The stock was bought at an average price of $42.56 per share, for a total transaction of $31,877.44. Following the transaction, the director owned 2,330 shares of the company's stock, valued at approximately $99,164.80. The trade was a 47.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aaron M. Boigon sold 1,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $41.09, for a total value of $61,635.00. Following the completion of the sale, the executive vice president owned 4,100 shares of the company's stock, valued at $168,469. The trade was a 26.79% decrease in their position. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Plumas Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of PLBC. CWM LLC grew its position in shares of Plumas Bancorp by 408.9% in the third quarter. CWM LLC now owns 1,089 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 875 shares during the last quarter. Albert D Mason Inc. lifted its stake in shares of Plumas Bancorp by 41.7% in the third quarter. Albert D Mason Inc. now owns 44,778 shares of the financial services provider's stock valued at $1,932,000 after buying an additional 13,185 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Plumas Bancorp by 623.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider's stock valued at $73,000 after buying an additional 1,410 shares during the period. Jane Street Group LLC lifted its stake in shares of Plumas Bancorp by 35.7% in the second quarter. Jane Street Group LLC now owns 8,001 shares of the financial services provider's stock valued at $356,000 after buying an additional 2,103 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Plumas Bancorp by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider's stock worth $8,016,000 after purchasing an additional 6,637 shares during the period. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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