Insider Buying: Plumas Bancorp (NASDAQ:PLBC) Director Buys 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 stock was purchased at an average cost of $42.56 per share, with a total value of $31,877.44. Following the transaction, the director directly owned 2,330 shares in the company, valued at approximately $99,164.80. This represents a 47.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, May 22nd, Michael Kevin Foster bought 581 shares of Plumas Bancorp stock. The stock was purchased at an average cost of $43.99 per share, with a total value of $25,558.19.

Plumas Bancorp Price Performance

Plumas Bancorp stock traded up $0.68 during midday trading on Monday, reaching $42.77. The company had a trading volume of 15,177 shares, compared to its average volume of 12,244. The firm's fifty day simple moving average is $44.13 and its 200-day simple moving average is $44.02. Plumas Bancorp has a 12-month low of $35.76 and a 12-month high of $51.33. The company has a market capitalization of $253.63 million, a P/E ratio of 8.68 and a beta of 0.61.

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

Plumas Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, August 1st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. Plumas Bancorp's dividend payout ratio (DPR) is currently 24.74%.

Analyst Upgrades and Downgrades

PLBC has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $50.00 price objective (up previously from $48.00) on shares of Plumas Bancorp in a research report on Tuesday, July 8th. 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 report on Thursday.

Institutional Trading of Plumas Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Plumas Bancorp by 3.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider's stock worth $563,000 after purchasing an additional 386 shares in the last quarter. The Manufacturers Life Insurance Company grew its position 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 purchasing an additional 537 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Plumas Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider's stock valued at $152,000 after purchasing an additional 703 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Plumas Bancorp by 447.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 904 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in shares of Plumas Bancorp during the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 41.68% of the company's stock.

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.

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