Insider Buying: Plumas Bancorp (NASDAQ:PLBC) Director Purchases 749 Shares of Stock

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) Director Michael Kevin Foster bought 749 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $42.56 per share, for a total transaction of $31,877.44. Following the completion of the transaction, the director owned 2,330 shares in the company, valued at $99,164.80. This represents a 47.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Michael Kevin Foster also recently made the following trade(s):

• On Thursday, May 22nd, Michael Kevin Foster acquired 581 shares of Plumas Bancorp stock. The stock was bought at an average price of $43.99 per share, for a total transaction of $25,558.19.

Plumas Bancorp Stock Performance

Shares of NASDAQ PLBC traded down $1.42 during mid-day trading on Thursday, hitting $42.14. 10,427 shares of the stock were exchanged, compared to its average volume of 18,237. Plumas Bancorp has a twelve month low of $35.76 and a twelve month high of $51.33. The stock's fifty day simple moving average is $43.90 and its two-hundred day simple moving average is $43.97. The company has a market cap of $249.89 million, a P/E ratio of 8.69 and a beta of 0.61.

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

Plumas Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $0.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. Plumas Bancorp's dividend payout ratio is 24.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abound Financial LLC bought a new position in Plumas Bancorp in the first quarter valued at about $42,000. Tower Research Capital LLC TRC grew its position in shares of Plumas Bancorp by 447.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider's stock worth $52,000 after buying an additional 904 shares during the period. Copeland Capital Management LLC acquired a new stake in shares of Plumas Bancorp during the 1st quarter worth approximately $53,000. GAMMA Investing LLC raised its stake in shares of Plumas Bancorp by 4,382.1% during the first quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider's stock worth $54,000 after buying an additional 1,227 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Plumas Bancorp in the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 41.68% of the company's stock.

Analysts Set New Price Targets

PLBC has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 price target (up previously from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th. Piper Sandler reduced their target price on shares of Plumas Bancorp from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, July 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.