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

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLBC. The Manufacturers Life Insurance Company boosted its holdings in shares of Plumas Bancorp by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 171,063 shares of the financial services provider's stock valued at $8,084,000 after acquiring an additional 537 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Plumas Bancorp by 3.9% in 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 in the last quarter. Elizabeth Park Capital Advisors Ltd. raised its holdings in shares of 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 purchasing an additional 16,110 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Plumas Bancorp by 3.0% in the 4th quarter. Northern Trust Corp now owns 42,613 shares of the financial services provider's stock worth $2,014,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Plumas Bancorp by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 29,184 shares of the financial services provider's stock worth $1,379,000 after purchasing an additional 3,760 shares in the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.

Plumas Bancorp Stock Down 0.8%

Shares of PLBC stock traded down $0.33 during trading hours on Friday, reaching $43.15. 3,220 shares of the stock traded hands, compared to its average volume of 11,721. The firm has a market capitalization of $255.84 million, a PE ratio of 9.01 and a beta of 0.65. The business has a fifty day moving average price of $42.99 and a 200 day moving average price of $45.07. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $51.33.

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 for the quarter, beating the consensus estimate of $1.13 by $0.07. The firm had revenue of $21.50 million for the quarter, compared to analyst estimates of $20.62 million. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. During the same quarter in the prior year, the business earned $1.05 EPS. Research analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.30 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.78%. Plumas Bancorp's dividend payout ratio is presently 24.29%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, Director Michael Kevin Foster bought 581 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $43.99 per share, with a total value of $25,558.19. Following the completion of the transaction, the director now directly owns 1,581 shares of the company's stock, valued at approximately $69,548.19. The trade was a 58.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.00% of the company's stock.

Plumas Bancorp 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.