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Plumas Bancorp (PLBC)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$101.69 - $269.75$155.49
Multi-Stage$69.85 - $76.31$73.02
Blended Fair Value$114.26
Current Price$43.14
Upside164.85%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS21.81%0.00%1.050.960.610.510.310.390.300.230.080.00
YoY Growth--8.58%56.86%21.29%65.11%-21.37%28.83%31.76%185.89%0.00%0.00%
Dividend Yield--2.42%2.66%1.80%1.33%1.05%2.11%1.31%0.92%0.44%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)26.40
(-) Cash Dividends Paid (M)7.23
(=) Cash Retained (M)19.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.283.301.98
Cash Retained (M)19.1719.1719.17
(-) Cash Required (M)-5.28-3.30-1.98
(=) Excess Retained (M)13.8915.8717.19
(/) Shares Outstanding (M)6.096.096.09
(=) Excess Retained per Share2.282.612.82
LTM Dividend per Share1.191.191.19
(+) Excess Retained per Share2.282.612.82
(=) Adjusted Dividend3.473.794.01
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Fair Value$101.69$155.49$269.75
Upside / Downside135.72%260.44%525.30%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)26.4028.1129.9431.8933.9636.1637.25
Payout Ratio27.38%39.90%52.43%64.95%77.48%90.00%92.50%
Projected Dividends (M)7.2311.2215.7020.7126.3132.5534.46

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)10.1810.2810.38
Year 2 PV (M)12.9413.1913.44
Year 3 PV (M)15.5015.9516.40
Year 4 PV (M)17.8818.5719.28
Year 5 PV (M)20.0921.0622.07
PV of Terminal Value (M)348.75365.59383.08
Equity Value (M)425.35444.64464.64
Shares Outstanding (M)6.096.096.09
Fair Value$69.85$73.02$76.31
Upside / Downside61.93%69.27%76.88%

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