Rice Hall James & Associates LLC Invests $2.48 Million in Plumas Bancorp $PLBC

Rice Hall James & Associates LLC bought a new position in Plumas Bancorp (NASDAQ:PLBC) during the 2nd quarter, HoldingsChannel reports. The fund bought 42,412 shares of the financial services provider’s stock, valued at approximately $2,479,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLBC. Fourthstone LLC boosted its position in Plumas Bancorp by 125.9% during the 4th quarter. Fourthstone LLC now owns 102,585 shares of the financial services provider’s stock valued at $4,585,000 after buying an additional 57,167 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Plumas Bancorp by 19.9% in the first quarter. The Manufacturers Life Insurance Company now owns 235,916 shares of the financial services provider’s stock valued at $11,517,000 after acquiring an additional 39,176 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Plumas Bancorp during the second quarter valued at about $1,588,000. Punch & Associates Investment Management Inc. raised its stake in shares of Plumas Bancorp by 42.3% during the third quarter. Punch & Associates Investment Management Inc. now owns 62,535 shares of the financial services provider’s stock valued at $2,698,000 after acquiring an additional 18,595 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Plumas Bancorp by 5.2% during the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock valued at $13,221,000 after acquiring an additional 15,080 shares during the last quarter. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Trading Down 0.9%

NASDAQ:PLBC opened at $61.94 on Wednesday. The company has a 50-day moving average price of $59.50 and a 200-day moving average price of $54.17. The stock has a market cap of $431.10 million, a price-to-earnings ratio of 12.19 and a beta of 0.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Plumas Bancorp has a 12 month low of $39.80 and a 12 month high of $64.00.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.04. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. The company had revenue of $28.76 million for the quarter, compared to analysts’ expectations of $28.02 million. Equities analysts predict that Plumas Bancorp will post 5.71 EPS for the current year.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.33 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Plumas Bancorp’s dividend payout ratio is 25.98%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PLBC shares. Piper Sandler raised their target price on Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $66.00 price target on shares of Plumas Bancorp in a research report on Thursday, July 16th. Stephens increased their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Wall Street Zen upgraded Plumas Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings raised Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Plumas Bancorp currently has a consensus rating of “Buy” and a consensus price target of $66.33.

Plumas Bancorp Company Profile

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.