Fourthstone LLC Makes New Investment in Plumas Bancorp (NASDAQ:PLBC)

Fourthstone LLC acquired a new stake in shares of Plumas Bancorp (NASDAQ:PLBC) during the third quarter, Holdings Channel.com reports. The fund acquired 12,771 shares of the financial services provider’s stock, valued at approximately $521,000.

Other hedge funds also recently made changes to their positions in the company. De Lisle Partners LLP grew its holdings in Plumas Bancorp by 61.5% during the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock valued at $6,068,000 after purchasing an additional 57,051 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Plumas Bancorp by 533.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after buying an additional 4,938 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Plumas Bancorp by 5.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after buying an additional 9,328 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Plumas Bancorp during the second quarter valued at about $1,247,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Plumas Bancorp by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after acquiring an additional 4,838 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PLBC. Raymond James increased their price target on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Stephens assumed coverage on Plumas Bancorp in a research note on Wednesday. They set an “overweight” rating and a $60.00 target price for the company.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of Plumas Bancorp stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total value of $106,204.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Plumas Bancorp Trading Up 3.0 %

PLBC stock traded up $1.46 during mid-day trading on Thursday, hitting $49.46. 11,425 shares of the company were exchanged, compared to its average volume of 9,602. The firm has a fifty day simple moving average of $42.84 and a 200 day simple moving average of $39.37. The company has a market capitalization of $291.81 million, a PE ratio of 10.37 and a beta of 0.67. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $49.74.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. The business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. As a group, sell-side analysts anticipate that Plumas Bancorp will post 4.66 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, November 1st. Plumas Bancorp’s dividend payout ratio (DPR) is presently 22.64%.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.