Plumas Bancorp (NASDAQ:PLBC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of Plumas Bancorp (NASDAQ:PLBC - Free Report) by 185.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,750 shares of the financial services provider's stock after acquiring an additional 14,128 shares during the period. JPMorgan Chase & Co. owned 0.37% of Plumas Bancorp worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Plumas Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider's stock worth $5,033,000 after purchasing an additional 6,075 shares during the last quarter. State Street Corp raised its holdings in shares of Plumas Bancorp by 3.8% during the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider's stock worth $2,809,000 after acquiring an additional 2,526 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Plumas Bancorp by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 29,184 shares of the financial services provider's stock valued at $1,379,000 after acquiring an additional 3,760 shares during the last quarter. Angel Oak Capital Advisors LLC purchased a new position in shares of Plumas Bancorp in the fourth quarter valued at $1,026,000. Finally, Raymond James Financial Inc. purchased a new stake in Plumas Bancorp during the fourth quarter valued at $899,000. 41.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael Kevin Foster purchased 1,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were acquired at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the acquisition, the director now owns 1,000 shares of the company's stock, valued at approximately $45,670. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.00% of the company's stock.

Plumas Bancorp Price Performance

Shares of PLBC traded up $0.54 during mid-day trading on Friday, reaching $43.37. 1,770 shares of the company's stock traded hands, compared to its average volume of 11,151. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $51.33. The stock has a market cap of $256.72 million, a P/E ratio of 9.05 and a beta of 0.55. The stock's 50-day moving average is $42.72 and its two-hundred day moving average is $44.83.

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

Plumas Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, May 1st. Plumas Bancorp's dividend payout ratio is presently 24.29%.

Analyst Upgrades and Downgrades

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

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.