5,543 Shares in Plumas Bancorp (NASDAQ:PLBC) Acquired by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC bought a new position in Plumas Bancorp (NASDAQ:PLBC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,543 shares of the financial services provider's stock, valued at approximately $240,000. Rice Hall James & Associates LLC owned about 0.09% of Plumas Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PLBC. Albert D Mason Inc. boosted its stake in shares of Plumas Bancorp by 354.3% in the first quarter. Albert D Mason Inc. now owns 33,979 shares of the financial services provider's stock worth $1,470,000 after buying an additional 26,500 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Plumas Bancorp in the fourth quarter worth about $899,000. Elizabeth Park Capital Advisors Ltd. boosted its stake in shares of Plumas Bancorp by 46.5% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 50,778 shares of the financial services provider's stock worth $2,400,000 after buying an additional 16,110 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Plumas Bancorp by 185.4% in the fourth quarter. JPMorgan Chase & Co. now owns 21,750 shares of the financial services provider's stock worth $1,028,000 after buying an additional 14,128 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in Plumas Bancorp during the fourth quarter worth approximately $571,000. Hedge funds and other institutional investors own 41.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLBC. Piper Sandler reduced their target price on Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday. Raymond James Financial reaffirmed an "outperform" rating and set a $50.00 target price (up from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th.

Insider Buying and Selling at Plumas Bancorp

In other news, Director Michael Kevin Foster bought 581 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $43.99 per share, for a total transaction of $25,558.19. Following the completion of the transaction, the director directly owned 1,581 shares in the company, valued at $69,548.19. The trade was a 58.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is currently owned by company insiders.

Plumas Bancorp Stock Up 1.4%

Shares of PLBC stock traded up $0.59 during trading hours on Friday, hitting $42.58. 9,005 shares of the company's stock were exchanged, compared to its average volume of 12,168. The firm has a market cap of $252.47 million, a P/E ratio of 8.78 and a beta of 0.61. The firm has a 50 day moving average of $44.16 and a two-hundred day moving average of $44.09. Plumas Bancorp has a fifty-two week low of $35.76 and a fifty-two week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). The business had revenue of $20.54 million for the quarter, compared to analyst estimates of $21.00 million. Plumas Bancorp had a return on equity of 15.94% and a net margin of 30.81%. During the same period in the previous year, the company earned $1.14 earnings per share. On average, equities analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, August 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. Plumas Bancorp's dividend payout ratio (DPR) is presently 24.29%.

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.