Insider Buying: Plumas Bancorp (NASDAQ:PLBC) Director Acquires 1,000 Shares of Stock

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster acquired 1,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $45.67 per share, with a total value of $45,670.00. Following the purchase, the director now owns 1,000 shares in the company, valued at approximately $45,670. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Plumas Bancorp Stock Performance

Shares of PLBC traded down $0.21 during mid-day trading on Friday, hitting $44.74. 2,764 shares of the company traded hands, compared to its average volume of 10,523. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The stock has a market cap of $263.97 million, a price-to-earnings ratio of 9.34 and a beta of 0.70. The stock has a 50-day moving average price of $46.32 and a two-hundred day moving average price of $43.76.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. On average, analysts forecast that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a $0.30 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.68%. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27. Plumas Bancorp’s dividend payout ratio is currently 25.05%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Plumas Bancorp by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after buying an additional 6,075 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Plumas Bancorp by 533.8% during the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock worth $239,000 after buying an additional 4,938 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Plumas Bancorp by 5.8% in the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after purchasing an additional 9,328 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Plumas Bancorp by 129.8% in the third quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 4,305 shares during the period. Finally, Barclays PLC lifted its position in Plumas Bancorp by 275.4% in the third quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock valued at $292,000 after buying an additional 5,249 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLBC. Stephens initiated coverage on shares of Plumas Bancorp in a research report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 target price for the company. Raymond James reissued an “outperform” rating and issued a $54.00 price target (up from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th.

About Plumas Bancorp

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.