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

Plumas Bancorp (NASDAQ:PLBC) 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 of this dividend 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 raised its dividend every year for the last 4 years. Plumas Bancorp has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of Plumas Bancorp stock traded up $0.13 during trading hours on Friday, reaching $35.48. The company’s stock had a trading volume of 5,650 shares, compared to its average volume of 6,805. The firm has a 50 day moving average price of $35.14 and a 200-day moving average price of $36.23. Plumas Bancorp has a one year low of $31.77 and a one year high of $45.00. The stock has a market cap of $208.98 million, a P/E ratio of 7.42 and a beta of 0.73.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The business had revenue of $20.01 million for the quarter, compared to the consensus estimate of $20.00 million. Plumas Bancorp had a net margin of 33.12% and a return on equity of 21.53%. As a group, sell-side analysts forecast that Plumas Bancorp will post 4.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PLBC shares. StockNews.com cut shares of Plumas Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James upped their price target on shares of Plumas Bancorp from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Aaron M. Boigon sold 1,600 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $36.89, for a total value of $59,024.00. Following the sale, the executive vice president now owns 5,600 shares in the company, valued at $206,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLBC. Vanguard Group Inc. raised its stake in Plumas Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 278,382 shares of the financial services provider’s stock worth $11,511,000 after purchasing an additional 2,074 shares during the period. Barclays PLC grew its holdings in Plumas Bancorp by 621.0% during the 4th quarter. Barclays PLC now owns 7,520 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 6,477 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Plumas Bancorp by 49.7% during the 4th quarter. Nuveen Asset Management LLC now owns 10,795 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 3,585 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Plumas Bancorp during the 4th quarter worth approximately $309,000. Finally, Royal Bank of Canada raised its position in Plumas Bancorp by 210.8% in the 4th quarter. Royal Bank of Canada now owns 4,128 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 2,800 shares during the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

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.