Jeffrey T. Moore, Executive Vice President and Chief Credit Officer of Plumas Bancorp (NASDAQ:PLBC), recently sold 4,200 shares of the company's common stock. The sale, which took place on October 22, 2024, was executed at an average price of $42.71 per share, resulting in a total transaction value of $179,382.
Following this transaction, Moore no longer holds any shares directly under the Jeffrey & Cornelia Moore 2003 Trust. The sale price range for the shares was between $42.50 and $43.00.
In other recent news, Plumas Bancorp, a Nevada-based financial institution, has declared a quarterly cash dividend of $0.27 per common share. The dividend is scheduled to be paid on November 15, 2024, to shareholders of record as of November 1, 2024. This is a routine method for publicly traded companies to return a portion of their earnings to shareholders, with the dividend yield and payout ratio being significant indicators for investors.
In another development, Plumas Bancorp has mutually agreed with Mountainseed Real Estate Services, LLC to terminate a property sale agreement. The initial agreement, made in 2024, involved the sale of three properties operated by Plumas Bank, a subsidiary of Plumas Bancorp, for approximately $7.9 million. The termination does not affect another transaction involving nine branch office properties.
These are the latest developments concerning Plumas Bancorp, providing insight into the company's recent activities and financial strategies. It's important to note that these developments are based on press release statements and details filed in the Form 8-K with the Securities and Exchange Commission.
InvestingPro Insights
As Jeffrey T. Moore, Executive Vice President and Chief Credit Officer of Plumas Bancorp (NASDAQ:PLBC), divests 4,200 shares, investors might be curious about the company's financial health and market position. According to InvestingPro data, Plumas Bancorp currently boasts a market capitalization of $250.62 million, with a price-to-earnings ratio of 8.82, suggesting the stock may be undervalued compared to industry peers.
Despite the recent insider sale, Plumas Bancorp has demonstrated a commitment to shareholder value. An InvestingPro Tip reveals that the company has raised its dividend for 4 consecutive years, with a current dividend yield of 2.54%. This consistent dividend growth could be attractive to income-focused investors.
The company's financial performance appears solid, with a revenue of $79.87 million in the last twelve months as of Q3 2024, representing a growth of 3.64%. Moreover, Plumas Bancorp's operating income margin stands at an impressive 48.17%, indicating efficient management of operating expenses.
While these metrics paint a positive picture, it's worth noting that analysts anticipate a sales decline in the current year, according to another InvestingPro Tip. This forecast, along with the insider sale, may warrant closer attention from investors.
For a more comprehensive analysis, InvestingPro offers additional tips and insights, with 9 more tips available for Plumas Bancorp. These could provide valuable context for understanding the company's prospects and potential challenges in the evolving banking landscape.
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