Updated 3/13/25
Plumas Bancorp doesn’t get a lot of headlines, and frankly, it probably prefers it that way. This community bank, rooted in Northern California and parts of Nevada, has built a business on traditional banking values—measured growth, strong relationships, and conservative lending. It’s not trying to be flashy. Instead, it focuses on doing the basics really well. For income-focused investors, especially those hunting for stable dividend payers, this quiet approach can be exactly what they’re looking for.
Over the years, Plumas has turned in solid numbers and returned value to shareholders through regular dividends. It’s the kind of stock that doesn’t demand attention but quietly rewards those who hold it with consistency.
Recent Events
The past year has been kind to Plumas Bancorp. The bank’s revenues rose 7% year over year, and profits nudged up 3%, which may not seem dramatic but stands out in an environment where a lot of regional lenders have been under pressure. It’s clear that the team at Plumas is managing well through an interest rate cycle that’s challenged many of its peers.
Dividend-wise, the bank recently paid out another quarterly distribution, continuing its track record of rewarding shareholders while keeping the payout ratio comfortably low. Notably, the short interest in PLBC remains minimal, showing a lack of bearish sentiment and a vote of confidence in the bank’s long-term stability.
Key Dividend Metrics
💵 Dividend Yield: 2.60%
📈 5-Year Average Yield: 2.16%
💰 Annual Dividend: $1.08
📅 Last Dividend Paid: February 17, 2025
📉 Payout Ratio: 22.5%
🌱 Dividend Trend: Steady increases
🛡️ Safety Profile: Well-covered and conservative
🏦 Cash Per Share: $13.85
📚 Book Value Per Share: $30.14
Dividend Overview
Plumas doesn’t boast a sky-high yield, but at 2.6%, it provides a solid, reliable return that’s actually a bit higher than its five-year average. That’s encouraging for long-term investors looking to lock in a decent income stream without stretching for risk.
The payout is modest in size, but when you look at the bank’s conservative 22.5% payout ratio, the appeal becomes clearer. There’s plenty of breathing room. They’re not overextending themselves to pay shareholders, which speaks volumes about the sustainability of the dividend.
Dividend Growth and Safety
Dividend growth here is slow and steady. You won’t see any big jumps, but that’s not the point. The increases come with consistency and a sense of balance. Management isn’t trying to impress the market with flashy hikes—they’re making sure each increase is justified and secure.
The earnings backing these payouts are strong. With $4.80 in earnings per share and just over a dollar going to dividends, there’s plenty of coverage. That extra cushion helps ensure the dividend holds up even if earnings take a hit in the future.
Cash reserves are also noteworthy. With over $13 in cash per share, the company has more than enough liquidity to weather storms. Add in a 17.6% return on equity and the picture becomes even more convincing: this dividend is not only safe but has room to grow.
Chart Analysis
Current Market Phase
Plumas Bancorp’s chart appears to be transitioning into the markdown phase after completing a clear distribution range between late December and early February. The stock had a strong markup move from late June into December 2024, rallying from the mid-$30s to above $50. That kind of move reflects enthusiastic accumulation, likely sparked by a combination of improving earnings and investor sentiment around small-cap financials.
But after reaching its peak near $51, the stock began forming lower highs and lower lows, suggesting buyers started backing away. The break below the 50-day moving average in mid-February was an early signal of weakness. Price is now flirting with the 200-day moving average, which is a critical line in the sand for longer-term trend followers.
Volume Behavior
Volume tells a confirming story. During the markup phase, volume expanded meaningfully on up days—particularly in July and early November—marking clear signs of institutional interest. Since then, volume has tapered off, especially during the recent decline. This hints at distribution from stronger hands to weaker ones in late 2024 and early 2025. The lack of high-volume support on recent down moves also shows there’s no rush from buyers to defend levels just yet.
Moving Averages
The 50-day moving average has now turned lower and crossed below the price level, indicating short-term momentum has shifted bearish. The 200-day moving average, still upward sloping, is getting tested right now. This area around $43 is a key battleground. If price holds and stabilizes above the 200-day, a base could begin forming. But continued weakness here would open the door to further downside, possibly back toward the high $30s.
Relative Strength Index (RSI)
The RSI has been drifting downward since peaking above 70 in late December. It’s currently hovering around the 40 zone, which isn’t yet oversold but is certainly weak. It reflects the cooling momentum over the past two months. A drop below 30 would suggest short-term exhaustion and possibly a bounce, but for now, it’s showing that sellers are still in control.
Last 5 Candles
The most recent five candles show a tight consolidation just under the 50-day moving average with relatively small bodies and modest wicks on both ends. This lack of clear direction hints at indecision but leans slightly bearish given the downward slope of both price and short-term average. Notably, the absence of long lower wicks suggests there’s little aggressive dip buying going on at these levels.
The March 12 candle attempted to push higher but was met with resistance near the 50-day average, closing below the open. That rejection is meaningful—it shows sellers are still active and defending near-term resistance. Without a strong push above $44.50 accompanied by volume, upside may stay capped.
Analyst Ratings
Plumas Bancorp has been gaining attention from analysts recently, and a few ratings updates have given investors more to think about.
📈 In February 2025, one firm began coverage on PLBC with an Overweight rating and set a price target of $60. That’s a fairly bullish stance, suggesting they see meaningful upside from current levels. The reasoning? Strong fundamentals, consistent profitability, and management’s steady hand during the interest rate volatility.
🚀 Back in January 2025, another analyst reaffirmed an Outperform rating while nudging the target price from $49 up to $54. They pointed to the bank’s expanding net interest margin and growing loan portfolio as key drivers. The firm noted that even in a tough rate environment, Plumas managed to grow revenue year over year, which isn’t something many regional banks pulled off.
📊 Rewinding to November 2024, yet another coverage initiation came in with a $60 target, also paired with an Overweight view. It echoed a lot of the same themes—prudent lending, strong capital ratios, and an attractive valuation compared to peers in the community banking space.
🎯 As of now, the consensus analyst target sits around $58 per share. That’s a roughly 32 percent potential upside from its current price in the $43 range. The collective tone from analysts leans optimistic, with no recent downgrades and a consensus that management has created a reliable, shareholder-friendly business. Investors focused on fundamentals and dividend consistency might find this attention well warranted.
Earnings Report Summary
Plumas Bancorp recently posted its results for the fourth quarter and full year of 2024, and while there were a few ups and downs, the overall picture shows a bank that’s staying steady in a challenging environment.
For the fourth quarter, Plumas pulled in $7.7 million in net income, which works out to about $1.31 per share. That’s a small bump from the $7.5 million, or $1.28 per share, reported in the same quarter last year. On the return side, assets stayed solid with an annualized return of 1.87%, though return on equity did dip to 17.1% from nearly 24% the year before.
Looking at the full year, net income came in at $28.6 million, or $4.85 per share. That’s a bit lower than 2023’s results, when the company earned $29.8 million and $5.08 per share. Returns softened a little year over year, with return on assets at 1.74% and return on equity at 17.2%. The drop isn’t massive, but it reflects some margin pressure and rising expenses.
The good news is that core banking operations held up well. Net interest income climbed by nearly $4 million compared to the previous year, which shows the bank is still making smart moves with its loan and deposit base. Even better, the provision for credit losses dropped by $1.6 million, pointing to fewer concerns about bad loans.
Not everything moved in the right direction, though. Non-interest income slipped by almost $2 million, and operating costs rose by about $4.7 million. It’s a reminder that inflation and compliance expenses are still real headwinds for community banks.
On the balance sheet, loans grew by $57 million to hit the $1 billion mark, which is a healthy sign of demand and continued lending activity. Investment securities, on the other hand, dropped by $51 million. Deposits ticked up by 3%, while the bank trimmed its borrowings by a substantial $75 million. Shareholders’ equity rose by $31 million, giving the bank a stronger capital position heading into 2025.
One of the more encouraging takeaways was the improvement in net interest margin. It rose to 4.90% in the fourth quarter, up from 4.74% a year ago. For the full year, it stood at 4.79%. That kind of margin strength is a positive sign that Plumas is navigating the rate environment fairly well.
Financial Health and Stability
This bank is quietly efficient. It’s posting a return on assets of 1.77%, which is a healthy mark for a smaller institution. Meanwhile, margins are impressive—35% on the profit line and nearly 50% on the operating side. That tells you they’re controlling costs and lending smartly.
One standout detail is that Plumas is sitting on more cash than debt. That’s pretty rare for banks of any size. With $82 million in cash and only $61 million in total debt, the balance sheet is solid. There’s no overleveraging, no aggressive bets. This is a bank that values stability.
The current book value of $30.14 per share compared to a trading price in the low $40s means the stock isn’t cheap, but it’s not overpriced either. For what you’re getting—strong earnings, solid cash flow, and a shareholder-friendly approach—the valuation is reasonable.
Valuation and Stock Performance
Despite a 20% rise over the past year, PLBC’s valuation remains grounded. It trades at under 9 times earnings, which in today’s market, especially for a company with solid profitability, still feels inexpensive.
Its price-to-book ratio sits around 1.42, which again isn’t stretched. When stocks trade above book value, it’s often because investors are paying for quality—and Plumas appears to be delivering that.
The stock’s 52-week range shows it bottomed out at $32.50 and climbed as high as $51.33. That’s a decent swing, but current pricing suggests it’s hovering around its longer-term averages. Volume remains light, with about 10,000 shares trading daily. It’s not one for traders, but for those with patience, the illiquidity may actually be a benefit—pricing can sometimes lag behind fundamentals.
Risks and Considerations
Being a small regional bank comes with some trade-offs. Plumas isn’t scaling rapidly, and it isn’t immune to local economic shifts. If businesses in its footprint stumble or real estate softens, PLBC could feel the pressure.
There’s also the issue of management depth. Smaller banks often rely on a few key individuals to guide the ship, and while Plumas has done well under current leadership, any changes at the top should be watched closely.
Interest rate cycles are another factor. Plumas benefits from a higher-rate environment, but if the Fed pivots quickly, margins could compress. Unlike larger peers, PLBC doesn’t have multiple revenue streams to cushion the blow.
And, of course, liquidity is always a concern for microcaps. While it’s nice to see relatively low short interest, it’s worth remembering that getting in or out of a position quickly can be tough. You’ll want to size positions accordingly and be patient with execution.
Final Thoughts
Plumas Bancorp might not be the loudest name in the market, but that’s part of its charm. It’s a bank that focuses on doing the simple things well—lending carefully, managing costs, and paying shareholders from genuine profits.
For dividend-focused investors, the appeal lies in the reliability. This isn’t a chase for yield; it’s about consistency and staying power. The yield sits comfortably above average, the payout is easily covered, and the financials are in good shape. All of this adds up to a name that deserves attention from those who value steady income over the long haul.
In a market full of noise, Plumas offers something quieter, but perhaps more enduring.