Insider Buying: Plumas Bancorp (NASDAQ:PLBC) Director Acquires 581 Shares of Stock

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) Director Michael Kevin Foster bought 581 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average cost of $43.99 per share, for a total transaction of $25,558.19. Following the completion of the transaction, the director now owns 1,581 shares of the company's stock, valued at $69,548.19. This represents a 58.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Plumas Bancorp Stock Down 0.1%

Shares of NASDAQ:PLBC traded down $0.03 during trading on Thursday, reaching $43.48. The stock had a trading volume of 3,828 shares, compared to its average volume of 11,755. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $51.33. The firm has a market capitalization of $257.79 million, a price-to-earnings ratio of 9.08 and a beta of 0.65. The stock has a fifty day simple moving average of $42.99 and a two-hundred day simple moving average of $45.07.

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

Plumas Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, May 1st. Plumas Bancorp's dividend payout ratio is 24.29%.

Hedge Funds Weigh In On Plumas Bancorp

A number of institutional investors have recently modified their holdings of the company. Nuveen LLC bought a new position in Plumas Bancorp during the first quarter worth $103,720,000. Albert D Mason Inc. increased its position in Plumas Bancorp by 354.3% during the first quarter. Albert D Mason Inc. now owns 33,979 shares of the financial services provider's stock worth $1,470,000 after acquiring an additional 26,500 shares during the period. Angel Oak Capital Advisors LLC bought a new position in Plumas Bancorp during the fourth quarter worth $1,026,000. Raymond James Financial Inc. bought a new position in Plumas Bancorp during the fourth quarter worth $899,000. Finally, Elizabeth Park Capital Advisors Ltd. increased its position in Plumas Bancorp by 46.5% during 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 acquiring an additional 16,110 shares during the period. Institutional investors own 41.68% of the company's stock.

Analyst Ratings Changes

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

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.