Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster Buys 1,000 Shares

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster bought 1,000 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $45,670. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Plumas Bancorp Stock Performance

NASDAQ PLBC opened at $44.24 on Friday. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33. The firm has a 50 day simple moving average of $46.23 and a 200-day simple moving average of $43.84. The firm has a market cap of $261.02 million, a price-to-earnings ratio of 9.24 and a beta of 0.70.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. Equities analysts predict that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.71%. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 3rd. Plumas Bancorp’s payout ratio is presently 25.05%.

Institutional Investors Weigh In On Plumas Bancorp

Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in shares of Plumas Bancorp by 5.8% during the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after buying an additional 9,328 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Plumas Bancorp by 533.8% in the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 4,938 shares in the last quarter. De Lisle Partners LLP lifted its stake in Plumas Bancorp by 61.5% in the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after acquiring an additional 57,051 shares during the last quarter. Fourthstone LLC acquired a new position in Plumas Bancorp during the 3rd quarter worth approximately $521,000. Finally, State Street Corp increased its position in shares of Plumas Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock valued at $2,809,000 after purchasing an additional 2,526 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Analysts Set New Price Targets

PLBC has been the subject of a number of analyst reports. Stephens assumed coverage on Plumas Bancorp in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price target for the company. Raymond James reaffirmed an “outperform” rating and set a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a research note 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.