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

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 3.06%. The ex-dividend date is Tuesday, April 30th.

Plumas Bancorp has increased its dividend payment 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 25.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Plumas Bancorp to earn $4.30 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 25.1%.

Plumas Bancorp Stock Performance

PLBC stock opened at $35.32 on Friday. The firm has a 50 day moving average price of $35.06 and a 200-day moving average price of $36.30. Plumas Bancorp has a 52-week low of $31.77 and a 52-week high of $45.00. The firm has a market capitalization of $208.03 million, a price-to-earnings ratio of 7.39 and a beta of 0.73.

Insider Activity

In other news, EVP Aaron M. Boigon sold 1,600 shares of Plumas Bancorp stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $36.89, for a total transaction of $59,024.00. Following the completion of the transaction, the executive vice president now directly 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 is available through the SEC website. Company insiders own 9.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLBC shares. StockNews.com lowered shares of Plumas Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Raymond James lifted their target price on shares of Plumas Bancorp from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, January 19th.

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.