Los Angeles Capital Management LLC Buys New Shares in Plumas Bancorp $PLBC

Los Angeles Capital Management LLC purchased a new position in Plumas Bancorp (NASDAQ:PLBC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,362 shares of the financial services provider’s stock, valued at approximately $416,000. Los Angeles Capital Management LLC owned approximately 0.16% of Plumas Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nuveen LLC purchased a new position in shares of Plumas Bancorp in the first quarter valued at about $103,720,000. Elizabeth Park Capital Advisors Ltd. raised its stake in Plumas Bancorp by 5.9% during the 1st quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider’s stock valued at $2,327,000 after purchasing an additional 3,000 shares during the period. Jane Street Group LLC purchased a new position in Plumas Bancorp in the 1st quarter worth approximately $255,000. Corton Capital Inc. lifted its holdings in Plumas Bancorp by 17.5% in the 1st quarter. Corton Capital Inc. now owns 6,630 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 988 shares in the last quarter. Finally, De Lisle Partners LLP boosted its stake in Plumas Bancorp by 1.7% in the 1st quarter. De Lisle Partners LLP now owns 164,818 shares of the financial services provider’s stock worth $7,183,000 after purchasing an additional 2,825 shares during the period. 41.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLBC shares. Piper Sandler reduced their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.00.

Insider Activity

In related news, EVP Aaron M. Boigon sold 1,500 shares of Plumas Bancorp stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $41.09, for a total value of $61,635.00. Following the completion of the transaction, the executive vice president owned 4,100 shares in the company, valued at approximately $168,469. This trade represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Plumas Bancorp Price Performance

Shares of PLBC opened at $42.16 on Friday. The stock has a market capitalization of $293.26 million, a price-to-earnings ratio of 9.87 and a beta of 0.69. Plumas Bancorp has a 1 year low of $38.71 and a 1 year high of $51.33. The business’s 50 day simple moving average is $42.46 and its 200-day simple moving average is $43.03.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.69. The company had revenue of $27.42 million for the quarter, compared to analysts’ expectations of $28.07 million. Plumas Bancorp had a net margin of 25.80% and a return on equity of 16.52%. On average, sell-side analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 3rd. Plumas Bancorp’s dividend payout ratio is currently 28.10%.

Plumas Bancorp 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.