Kenny Richard Francis, a director at Plumas Bancorp (NASDAQ:PLBC), reported a sale of 300 shares of common stock on November 19, according to a recent SEC filing. The shares were sold at an average price of $46.9964 each, totaling approximately $14,098. Following this transaction, Francis holds 9,507 shares indirectly through the Richard and Kate Kenny Family Trust. This transaction reflects the latest activity in Plumas Bancorp's insider trading, offering a glimpse into the decisions of its board members.
In other recent news, Plumas Bancorp, a Nevada-based financial institution, announced a quarterly cash dividend of $0.27 per common share, payable on November 15, 2024, to shareholders of record as of November 1, 2024. The payment of dividends is an established practice among publicly traded companies, signifying a distribution of a portion of their earnings back to their shareholders. Key indicators for investors include the dividend yield and the payout ratio, which help assess the sustainability of a dividend.
In other developments, Plumas Bancorp terminated its property sale agreement with Mountainseed Real Estate Services, LLC. Originally set in 2024, the agreement involved the sale of three properties operated by Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp, for approximately $7.9 million. Both parties mutually agreed to end the agreement, which does not affect another transaction involving nine branch office properties. These are the recent developments concerning Plumas Bancorp.
InvestingPro Insights
The recent insider sale by Kenny Richard Francis comes at a time when Plumas Bancorp (NASDAQ:PLBC) is experiencing notable market performance. According to InvestingPro data, the company's stock is trading near its 52-week high, with a strong return of 21.98% over the last three months and an impressive 36.11% over the past six months. This upward trend aligns with the company's long-term performance, as InvestingPro Tips highlight a high return over the last decade and a strong return over the last five years.
Despite the positive stock performance, InvestingPro Tips indicate that analysts anticipate a sales decline in the current year, and net income is expected to drop. This forecast contrasts with the company's recent financial metrics, which show a revenue growth of 3.64% in the last twelve months as of Q3 2024, and an operating income margin of 48.19% for the same period.
For investors considering Plumas Bancorp, it's worth noting that the company has maintained dividend payments for 9 consecutive years and has raised its dividend for 4 consecutive years. The current dividend yield stands at 2.29%, with a dividend growth of 8.0% in the last twelve months. These factors may be attractive to income-focused investors, especially given the company's P/E ratio of 9.74, which suggests a relatively low valuation compared to earnings.
InvestingPro offers 12 additional tips for Plumas Bancorp, providing a more comprehensive analysis for those looking to delve deeper into the company's prospects and challenges.
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