Putney Financial Group LLC Invests $571,000 in Plumas Bancorp (NASDAQ:PLBC)

Putney Financial Group LLC purchased a new stake in Plumas Bancorp (NASDAQ:PLBC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,087 shares of the financial services provider's stock, valued at approximately $571,000. Plumas Bancorp accounts for approximately 0.4% of Putney Financial Group LLC's portfolio, making the stock its 28th biggest holding. Putney Financial Group LLC owned 0.20% of Plumas Bancorp as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Angel Oak Capital Advisors LLC acquired a new position in shares of Plumas Bancorp during the fourth quarter valued at approximately $1,026,000. Renaissance Technologies LLC raised its stake in Plumas Bancorp by 42.8% in the 4th quarter. Renaissance Technologies LLC now owns 18,999 shares of the financial services provider's stock valued at $898,000 after purchasing an additional 5,699 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Plumas Bancorp by 129.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 4,305 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Plumas Bancorp in the 4th quarter valued at $899,000. Finally, Dimensional Fund Advisors LP boosted its stake in Plumas Bancorp by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 83,391 shares of the financial services provider's stock worth $3,941,000 after purchasing an additional 3,121 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company's stock.

Insider Activity at Plumas Bancorp

In other Plumas Bancorp news, Director Michael Kevin Foster acquired 581 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $43.99 per share, with a total value of $25,558.19. Following the transaction, the director now owns 1,581 shares of the company's stock, valued at $69,548.19. This trade represents a 58.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.00% of the stock is currently owned by insiders.

Plumas Bancorp Trading Down 0.1%

NASDAQ:PLBC traded down $0.03 during trading hours on Thursday, hitting $43.48. The company had a trading volume of 3,828 shares, compared to its average volume of 11,724. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The company has a market cap of $257.79 million, a P/E ratio of 9.08 and a beta of 0.65. The company has a 50-day moving average of $43.00 and a 200 day moving average of $45.08.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $21.50 million during the quarter, compared to analysts' expectations of $20.62 million. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. During the same period last year, the business earned $1.05 earnings per share. On average, analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, May 1st. Plumas Bancorp's payout ratio is presently 24.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLBC shares. Raymond James reiterated an "outperform" rating and issued a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a research report on Thursday, January 30th. Piper Sandler cut their price objective on shares of Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Thursday, April 17th.

Plumas Bancorp Company Profile

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.