Plumas Bancorp (NASDAQ:PLBC) CFO Richard L. Belstock Buys 300 Shares

Plumas Bancorp (NASDAQ:PLBC) CFO Richard L. Belstock purchased 300 shares of the stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $42.70 per share, for a total transaction of $12,810.00. Following the completion of the acquisition, the chief financial officer now directly owns 47,135 shares in the company, valued at approximately $2,012,664.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Plumas Bancorp Stock Down 2.1 %

PLBC stock opened at $42.16 on Friday. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $45.00. The stock has a market capitalization of $248.74 million, a PE ratio of 8.84 and a beta of 0.68. The firm has a 50 day moving average of $40.50 and a 200 day moving average of $37.76.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. The company had revenue of $24.10 million during the quarter, compared to analyst estimates of $20.60 million. On average, equities research analysts expect that Plumas Bancorp will post 4.66 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.27 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.08 dividend on an annualized basis and a yield of 2.56%. Plumas Bancorp’s dividend payout ratio is currently 22.64%.

Analysts Set New Price Targets

Separately, Raymond James lifted their target price on shares of Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd.

Institutional Investors Weigh In On Plumas Bancorp

A number of institutional investors have recently added to or reduced their stakes in PLBC. Benjamin F. Edwards & Company Inc. boosted its stake in Plumas Bancorp by 15.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,247 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 433 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 290 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Plumas Bancorp by 32.8% during the 1st quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 2,856 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Plumas Bancorp during the 1st quarter valued at about $589,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Plumas Bancorp by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 2,036 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

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.