Michael Kevin Foster Acquires 1,000 Shares of Plumas Bancorp (NASDAQ:PLBC) Stock

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $45,670. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Plumas Bancorp Trading Down 0.5 %

Shares of NASDAQ:PLBC traded down $0.21 during midday trading on Friday, hitting $44.74. 2,764 shares of the stock were exchanged, compared to its average volume of 10,523. The stock has a market cap of $263.97 million, a P/E ratio of 9.34 and a beta of 0.70. The company has a 50 day moving average price of $46.32 and a 200-day moving average price of $43.76. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. On average, equities research analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. 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%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PLBC shares. Raymond James restated an “outperform” rating and set a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a research report on Thursday, January 30th. Stephens initiated coverage on shares of Plumas Bancorp in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price objective on the stock.

Hedge Funds Weigh In On Plumas Bancorp

A number of institutional investors have recently made changes to their positions in PLBC. De Lisle Partners LLP raised its position in shares of Plumas Bancorp by 61.5% during the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock valued at $6,068,000 after acquiring an additional 57,051 shares in the last quarter. Angel Oak Capital Advisors LLC purchased a new stake in Plumas Bancorp in the 4th quarter worth about $1,026,000. Raymond James Financial Inc. purchased a new stake in Plumas Bancorp in the 4th quarter worth about $899,000. Elizabeth Park Capital Advisors Ltd. lifted its stake in Plumas Bancorp by 46.5% in the 4th quarter. Elizabeth Park Capital Advisors Ltd. now owns 50,778 shares of the financial services provider’s stock worth $2,400,000 after acquiring an additional 16,110 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Plumas Bancorp by 185.4% in the 4th quarter. JPMorgan Chase & Co. now owns 21,750 shares of the financial services provider’s stock worth $1,028,000 after acquiring an additional 14,128 shares in the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

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.