Plumas Bancorp (NASDAQ:PLBC) Raises Dividend to $0.30 Per Share

Plumas Bancorp (NASDAQ:PLBC) announced a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.30 per share by the financial services provider on Monday, February 17th. This represents a $1.20 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27.

Plumas Bancorp has increased its dividend payment by an average of 24.5% annually over the last three years. Plumas Bancorp has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Plumas Bancorp to earn $4.90 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.5%.

Plumas Bancorp Stock Performance

Plumas Bancorp stock opened at $45.60 on Friday. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33. The company has a 50-day simple moving average of $47.26 and a 200-day simple moving average of $43.35. The firm has a market capitalization of $269.04 million, a P/E ratio of 9.52 and a beta of 0.71.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. As a group, sell-side analysts forecast that Plumas Bancorp will post 4.75 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Stephens initiated coverage on Plumas Bancorp in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 target price on the stock. Raymond James restated an “outperform” rating and set a $54.00 price objective (up from $49.00) on shares of Plumas Bancorp in a research note on Thursday.

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.