Plumas Bancorp (PLBC) To Go Ex-Dividend on April 30th

Plumas Bancorp (NASDAQ:PLBC) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be given a dividend of 0.27 per share by the financial services provider on Wednesday, May 15th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plumas Bancorp has increased its dividend 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 21.8% meaning its dividend is sufficiently covered by earnings. 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 PLBC traded up $0.13 during mid-day trading 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 company’s 50 day moving average is $35.14 and its 200 day moving average is $36.23. The stock has a market cap of $208.98 million, a PE ratio of 7.42 and a beta of 0.73. Plumas Bancorp has a 12-month low of $31.77 and a 12-month high of $45.00.

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

Analyst Ratings Changes

PLBC has been the topic of a number of research reports. StockNews.com downgraded Plumas Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Raymond James raised their price target on Plumas Bancorp from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Aaron M. Boigon sold 1,600 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $36.89, for a total transaction of $59,024.00. Following the sale, 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 SEC, which can be accessed through the SEC website. 9.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Plumas Bancorp

A number of institutional investors have recently made changes to their positions in PLBC. BlackRock Inc. raised its holdings in shares of Plumas Bancorp by 1,113.7% in the second quarter. BlackRock Inc. now owns 268,637 shares of the financial services provider’s stock worth $9,588,000 after acquiring an additional 246,504 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Plumas Bancorp by 115.8% in the second quarter. Geode Capital Management LLC now owns 99,870 shares of the financial services provider’s stock worth $3,564,000 after acquiring an additional 53,583 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Plumas Bancorp by 28.1% in the first quarter. Vanguard Group Inc. now owns 234,448 shares of the financial services provider’s stock worth $8,933,000 after acquiring an additional 51,497 shares during the last quarter. State Street Corp raised its holdings in shares of Plumas Bancorp by 253.3% in the second quarter. State Street Corp now owns 60,925 shares of the financial services provider’s stock worth $2,174,000 after acquiring an additional 43,680 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Plumas Bancorp by 382.9% in the second quarter. Northern Trust Corp now owns 43,344 shares of the financial services provider’s stock worth $1,547,000 after acquiring an additional 34,369 shares during the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

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.