Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster Acquires 581 Shares

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) Director Michael Kevin Foster acquired 581 shares of Plumas Bancorp stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $43.99 per share, with a total value of $25,558.19. Following the completion of the acquisition, the director now directly owns 1,581 shares in the company, valued at $69,548.19. This represents a 58.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Plumas Bancorp Stock Down 0.6%

Shares of Plumas Bancorp stock traded down $0.28 during trading hours on Friday, reaching $43.20. 9,210 shares of the stock traded hands, compared to its average volume of 11,782. The company has a 50 day moving average price of $42.99 and a 200 day moving average price of $45.05. The firm has a market capitalization of $256.13 million, a price-to-earnings ratio of 9.02 and a beta of 0.65. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33.

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

Plumas Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.78%. Plumas Bancorp's dividend payout ratio is currently 24.29%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price objective on Plumas Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Thursday, April 17th.

Institutional Investors Weigh In On Plumas Bancorp

A number of large investors have recently made changes to their positions in PLBC. Picton Mahoney Asset Management purchased a new position in shares of Plumas Bancorp during the 4th quarter valued at about $32,000. Abound Financial LLC purchased a new stake in shares of Plumas Bancorp during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 904 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Plumas Bancorp during the 1st quarter worth approximately $53,000. Finally, GAMMA Investing LLC raised its holdings in shares of Plumas Bancorp by 4,382.1% during the 1st quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider's stock worth $54,000 after acquiring an additional 1,227 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors.

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.