Plumas Bancorp (PLBC) to Distribute Quarterly Dividend of $0.33 on November 17th

Plumas Bancorp (NASDAQ:PLBC) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.33 per share by the financial services provider on Tuesday, November 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, November 3rd.

Plumas Bancorp has raised its dividend by an average of 0.3% per year over the last three years and has increased its dividend every year for the last 1 years. Plumas Bancorp has a payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Plumas Bancorp to earn $5.92 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 22.3%.

Plumas Bancorp Trading Down 0.9%

Shares of PLBC opened at $63.05 on Friday. The stock has a market capitalization of $438.83 million, a P/E ratio of 10.58 and a beta of 0.59. Plumas Bancorp has a twelve month low of $40.35 and a twelve month high of $64.30. The firm has a fifty day simple moving average of $62.14 and a two-hundred day simple moving average of $55.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.15. Plumas Bancorp had a return on equity of 15.82% and a net margin of 31.72%. The company had revenue of $29.33 million during the quarter, compared to the consensus estimate of $29.03 million. On average, research analysts anticipate that Plumas Bancorp will post 5.92 EPS for the current year.

Analyst Ratings Changes

PLBC has been the subject of several recent analyst reports. Wall Street Zen upgraded Plumas Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. The Goldman Sachs Group set a $70.00 price objective on Plumas Bancorp in a research note on Wednesday, October 21st. Piper Sandler upped their target price on shares of Plumas Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Stephens raised their price target on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Raymond James Financial restated an “outperform” rating and set a $70.00 target price on shares of Plumas Bancorp in a research report on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Plumas Bancorp has an average rating of “Buy” and a consensus price target of $68.25.

About Plumas Bancorp

Plumas Bancorp is the bank holding company for Plumas Bank, a community bank headquartered in Reno, Nevada. Plumas Bank was founded in 1980 in Quincy, California, and serves individuals, families, businesses and organizations through banking offices and digital banking services.

The bank provides a range of financial products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing, business loans, agricultural lending and lines of credit.