Plumas Bancorp (NASDAQ: PLBC) announced an increase in its quarterly dividend to $0.33 per share, marking a significant rise from the previous $0.30. This decision, made public on January 22, 2024, indicates the company’s commitment to returning value to its shareholders. The dividend will be payable on February 18, 2024, to shareholders on record as of February 4, 2024.
This new dividend represents an annualized yield of 2.6%. The upcoming payment reflects a 10.0% increase over the previous quarter, highlighting Plumas Bancorp’s consistent growth trajectory in dividend payments. Over the past three years, the company has increased its dividend by an average of 0.2% each year and has maintained annual increases for the last ten years.
Investors can take comfort in the company’s healthy dividend payout ratio of 21.1%, indicating that earnings sufficiently cover the dividend payments. Analysts project that Plumas Bancorp will earn $5.53 per share in the coming year, suggesting a future payout ratio of 21.7%, which should allow the company to sustain its $1.20 annual dividend comfortably.
Stock Performance Overview
During midday trading on January 22, 2024, shares of Plumas Bancorp rose by $0.39, reaching $49.99. The trading volume for the day stood at 51,774 shares, significantly higher than the average volume of 14,912 shares. The stock has experienced a fifty-two week range, with a low of $38.71 and a high of $52.01.
Plumas Bancorp’s recent performance can also be gauged through its moving averages, with the 50-day average at $44.41 and the 200-day average at $43.23. The company’s market capitalization currently stands at $347.93 million, with a price-to-earnings ratio of 11.71 and a beta of 0.60, indicating lower volatility compared to the broader market.
About Plumas Bancorp
Plumas Bancorp, headquartered in Quincy, California, serves as the parent company of Plumas Bank. The bank focuses on community banking, offering tailored financial solutions to individuals, families, small businesses, and agricultural clients in Northern California’s rural and semi-rural markets.
Through its operations, Plumas Bank provides a comprehensive range of financial products, including checking and savings accounts, money market funds, and certificates of deposit. Additionally, the bank offers various consumer lending options such as residential mortgages, home equity lines of credit, and installment loans, catering specifically to the needs of its clientele.
As Plumas Bancorp continues to enhance shareholder value through increased dividends, its strategic focus on personalized banking solutions remains vital for sustained growth in the competitive financial services landscape.
