Rice Hall James & Associates LLC acquired a new position in shares of Plumas Bancorp (NASDAQ:PLBC – Free Report) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 5,543 shares of the financial services provider’s stock, valued at approximately $240,000.
Several other hedge funds and other institutional investors also recently modified their holdings of PLBC. Picton Mahoney Asset Management bought a new position in shares of Plumas Bancorp during the fourth quarter worth about $32,000. Abound Financial LLC bought a new position in Plumas Bancorp during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC grew its position in shares of Plumas Bancorp by 447.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 904 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of Plumas Bancorp in the 1st quarter valued at approximately $53,000. Finally, GAMMA Investing LLC increased its holdings in shares of Plumas Bancorp by 4,382.1% in the 1st quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,227 shares during the last quarter. Institutional investors own 41.68% of the company’s stock.
Plumas Bancorp Trading Up 1.9%
Shares of Plumas Bancorp stock opened at $46.51 on Tuesday. The stock has a market capitalization of $275.80 million, a price-to-earnings ratio of 9.41 and a beta of 0.61. Plumas Bancorp has a twelve month low of $35.76 and a twelve month high of $51.33. The business’s 50 day simple moving average is $44.14 and its 200-day simple moving average is $44.14.
Plumas Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. Plumas Bancorp’s dividend payout ratio (DPR) is presently 24.29%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on PLBC shares. Piper Sandler reduced their price objective on Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price (up from $48.00) on shares of Plumas Bancorp in a report on Tuesday, July 8th.
Read Our Latest Report on PLBC
Insider Transactions at Plumas Bancorp
In other news, Director Michael Kevin Foster purchased 581 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $43.99 per share, for a total transaction of $25,558.19. Following the completion of the purchase, the director owned 1,581 shares of the company’s stock, valued at $69,548.19. This trade represents a 58.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.00% of the stock is owned by insiders.
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.
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