Elizabeth Park Capital Advisors Ltd. Purchases 16,110 Shares of Plumas Bancorp (NASDAQ:PLBC)

Elizabeth Park Capital Advisors Ltd. grew its stake in shares of Plumas Bancorp (NASDAQ:PLBC) by 46.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 50,778 shares of the financial services provider’s stock after purchasing an additional 16,110 shares during the period. Plumas Bancorp comprises approximately 2.0% of Elizabeth Park Capital Advisors Ltd.’s portfolio, making the stock its 29th biggest position. Elizabeth Park Capital Advisors Ltd. owned about 0.86% of Plumas Bancorp worth $2,400,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PLBC. BNP Paribas Financial Markets grew its position in Plumas Bancorp by 533.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 4,938 shares in the last quarter. State Street Corp boosted its stake 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 worth $2,809,000 after buying an additional 2,526 shares during the last quarter. Jane Street Group LLC increased its position in shares of Plumas Bancorp by 7.9% during the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 457 shares during the last quarter. Barclays PLC lifted its holdings in Plumas Bancorp by 275.4% during the third quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 5,249 shares during the period. Finally, Geode Capital Management LLC boosted its position in Plumas Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after purchasing an additional 6,075 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Stock Up 3.3 %

Shares of PLBC stock opened at $43.00 on Friday. The firm has a market cap of $254.56 million, a P/E ratio of 8.98 and a beta of 0.55. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $51.33. The business has a 50-day moving average price of $44.53 and a two-hundred day moving average price of $44.70.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping 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%. As a group, research analysts expect that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.79%. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 3rd. Plumas Bancorp’s dividend payout ratio is presently 25.05%.

Insider Activity

In related news, Director Michael Kevin Foster acquired 1,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $45.67 per share, with a total value of $45,670.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $45,670. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PLBC shares. Piper Sandler began coverage on shares of Plumas Bancorp in a research report on Thursday, February 27th. They issued an “overweight” rating and a $60.00 price objective on the stock. Raymond James reissued an “outperform” rating and issued a $54.00 price target (up previously from $49.00) on shares of Plumas Bancorp in a research 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.