Plumas Bancorp (NASDAQ:PLBC) Executive Vice President and Chief Financial Officer Richard L. Belstock recently purchased 300 shares of the company's common stock. The transaction, dated October 24, 2024, was executed at a price of $42.70 per share, bringing the total investment to approximately $12,810.
Following this acquisition, Belstock holds a total of 47,135 shares directly. Additionally, he possesses 13,543 shares indirectly through a 401(k) plan, reflecting an increase of 176 shares since the last report. This move indicates a continued commitment to the financial institution, headquartered in Reno, Nevada.
In other recent news, Plumas Bancorp declared a quarterly cash dividend of $0.27 per common share, payable on November 15, 2024, to shareholders of record as of November 1, 2024. This action reflects the company's consistent financial performance and its ongoing practice of providing returns to its shareholders. In other major developments, Plumas Bancorp and Mountainseed Real Estate Services, LLC have mutually agreed to terminate a previously arranged property sale agreement. The agreement, initially set in 2024, involved the sale of three properties operated by Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp, for approximately $7.9 million. However, this termination does not impact another transaction involving nine branch office properties. These recent developments provide insight into the company's financial strategies and practices.
InvestingPro Insights
The recent insider purchase by Plumas Bancorp's CFO aligns with several positive indicators highlighted by InvestingPro. According to InvestingPro data, Plumas Bancorp boasts a market capitalization of $245.79 million and an attractive P/E ratio of 8.86, suggesting the stock may be undervalued relative to its earnings.
InvestingPro Tips reveal that Plumas Bancorp has raised its dividend for 4 consecutive years and maintained dividend payments for 9 consecutive years, demonstrating a commitment to shareholder returns. This consistent dividend policy may be particularly appealing to investors seeking stable income streams.
The company's financial health appears robust, with InvestingPro data showing a strong operating income margin of 48.17% for the last twelve months as of Q3 2024. This impressive profitability metric underscores the efficiency of Plumas Bancorp's operations.
However, it's worth noting that analysts anticipate a sales decline in the current year, according to another InvestingPro Tip. This forecast, coupled with the expectation of a drop in net income, suggests that investors should monitor the company's future performance closely.
For readers interested in a more comprehensive analysis, InvestingPro offers 9 additional tips for Plumas Bancorp, providing a deeper understanding of the company's financial position and market outlook.
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