Insider Buying: Plumas Bancorp (NASDAQ:PLBC) Director Buys 581 Shares of Stock

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster bought 581 shares of the stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $43.99 per share, for a total transaction of $25,558.19. Following the acquisition, the director now directly owns 1,581 shares of the company’s stock, valued at approximately $69,548.19. This represents a 58.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Plumas Bancorp Stock Up 0.8%

Plumas Bancorp stock opened at $44.07 on Wednesday. The company has a market cap of $261.29 million, a price-to-earnings ratio of 9.20 and a beta of 0.65. The firm’s fifty day moving average is $42.98 and its 200 day moving average is $45.09. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $20.62 million. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. During the same quarter in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts anticipate that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, May 1st. Plumas Bancorp’s payout ratio is 24.29%.

Institutional Investors Weigh In On Plumas Bancorp

A number of hedge funds have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Plumas Bancorp in the first quarter valued at $103,720,000. The Manufacturers Life Insurance Company raised its stake in shares of Plumas Bancorp by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 171,063 shares of the financial services provider’s stock valued at $8,084,000 after acquiring an additional 537 shares during the period. De Lisle Partners LLP raised its stake in shares of Plumas Bancorp by 1.7% in the first quarter. De Lisle Partners LLP now owns 164,818 shares of the financial services provider’s stock valued at $7,183,000 after acquiring an additional 2,825 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Plumas Bancorp by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,391 shares of the financial services provider’s stock valued at $3,941,000 after acquiring an additional 3,121 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. raised its stake in shares of Plumas Bancorp by 5.9% in the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider’s stock valued at $2,327,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLBC shares. Piper Sandler lowered their target price on shares of Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Raymond James reissued an “outperform” rating and issued a $54.00 target price (up previously 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.