Plumas Bancorp Announces Dividend Increase

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on January 17th. Shareholders who are on record as of February 3rd will receive a payment of $0.30 per share on February 17th. This change marks an increase from the previous quarterly dividend of $0.27. Annually, this dividend amounts to $1.20, providing a yield of 2.56%. The ex-dividend date for this payout is also February 3rd.

This announcement demonstrates Plumas Bancorp's commitment to returning value to its shareholders. Over the past three years, the bank has increased its dividend by approximately 24.5% each year. Currently, Plumas Bancorp has a dividend payout ratio of 22.7%, which suggests that its dividend payments are well-supported by its earnings. Analysts anticipate that the company will earn $4.45 per share in the upcoming year, indicating that it can comfortably sustain its $1.08 annual dividend with an estimated future payout ratio of 24.3%.

Stock Performance Overview

On the day of the announcement, PLBC stock climbed by $1.36, reaching a trading price of $46.94. The trading volume amounted to 10,188 shares, slightly below its average of 10,694 shares. The company’s stock exhibits a 50-day moving average of $47.16 and a 200-day moving average of $42.49. Plumas Bancorp holds a market capitalization of approximately $276.95 million and has a price-to-earnings (P/E) ratio of 9.84. The stock has fluctuated between a 12-month low of $32.50 and a high of $51.33.

Latest Earnings Results

Plumas Bancorp recently released its quarterly earnings results on January 15th, where it reported earnings of $1.29 per share. This performance exceeded the analysts' expectations, which had forecasted $1.15 per share, by a margin of $0.14. The company recorded a net margin of 31.02% and a healthy return on equity of 17.31%. Financial analysts predict that Plumas Bancorp will post a projected EPS of 4.72 for the current fiscal year.

Insider Activity

In related news, on October 22nd, EVP Bj North sold 2,496 shares of Plumas Bancorp at an average price of $42.55, totaling $106,204.80. This transaction has been disclosed in a filing with the SEC for public viewing. Notably, company insiders own about 9.00% of the company's stock.

Analyst Ratings and Price Targets

Recent analyst reports indicate an upbeat outlook for Plumas Bancorp. Raymond James reaffirmed its "outperform" rating and adjusted its price target for the stock from $45.00 to $49.00. Additionally, Stephens initiated coverage on Plumas Bancorp with an "overweight" rating and established a target price of $60.00.

Company Overview

Plumas Bancorp operates as the bank holding company for Plumas Bank, offering a range of banking services to both small and medium-sized businesses, as well as individual customers in Northeastern California and Northwestern Nevada. The bank provides various deposit products, which include checking accounts, money market checking, savings accounts, and retirement accounts.

dividend, stocks, earnings