Michael Kevin Foster Purchases 470 Shares of Plumas Bancorp (NASDAQ:PLBC) Stock

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster purchased 470 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $51.25 per share, with a total value of $24,087.50. Following the completion of the purchase, the director owned 3,450 shares in the company, valued at $176,812.50. This trade represents a 15.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Plumas Bancorp Trading Up 0.2%

Shares of PLBC stock traded up $0.11 during trading hours on Tuesday, reaching $51.36. 12,038 shares of the stock were exchanged, compared to its average volume of 37,177. Plumas Bancorp has a 12-month low of $39.70 and a 12-month high of $54.58. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $50.26 and its 200-day moving average price is $47.46. The firm has a market capitalization of $357.97 million, a price-to-earnings ratio of 10.88 and a beta of 0.61.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. Plumas Bancorp had a net margin of 26.67% and a return on equity of 15.16%. The firm had revenue of $28.14 million during the quarter, compared to analysts’ expectations of $27.24 million. As a group, equities analysts anticipate that Plumas Bancorp will post 5.64 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 1st. Plumas Bancorp’s payout ratio is 27.97%.

Institutional Investors Weigh In On Plumas Bancorp

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Plumas Bancorp by 12.1% in the first quarter. Dimensional Fund Advisors LP now owns 123,750 shares of the financial services provider’s stock valued at $6,041,000 after buying an additional 13,342 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Plumas Bancorp during the first quarter worth about $378,000. My Personal CFO LLC acquired a new stake in Plumas Bancorp during the first quarter worth about $206,000. Blue Trust Inc. acquired a new stake in Plumas Bancorp during the first quarter worth about $40,000. Finally, Quadrature Capital Ltd acquired a new stake in Plumas Bancorp during the fourth quarter worth about $415,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLBC. Piper Sandler boosted their price objective on shares of Plumas Bancorp from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen raised shares of Plumas Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Stephens boosted their price objective on shares of Plumas Bancorp from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Plumas Bancorp in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $57.67.

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.