Raymond James Financial Inc. Invests $899,000 in Plumas Bancorp (NASDAQ:PLBC)

Raymond James Financial Inc. bought a new stake in Plumas Bancorp (NASDAQ:PLBC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,025 shares of the financial services provider's stock, valued at approximately $899,000. Raymond James Financial Inc. owned 0.32% of Plumas Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elizabeth Park Capital Advisors Ltd. increased its holdings in shares of Plumas Bancorp by 46.5% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 50,778 shares of the financial services provider's stock valued at $2,400,000 after purchasing an additional 16,110 shares during the period. Bank of New York Mellon Corp increased its holdings in Plumas Bancorp by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 29,184 shares of the financial services provider's stock worth $1,379,000 after buying an additional 3,760 shares during the period. JPMorgan Chase & Co. increased its holdings in Plumas Bancorp by 185.4% in the 4th quarter. JPMorgan Chase & Co. now owns 21,750 shares of the financial services provider's stock worth $1,028,000 after buying an additional 14,128 shares during the period. Angel Oak Capital Advisors LLC purchased a new position in Plumas Bancorp during the 4th quarter worth approximately $1,026,000. Finally, Renaissance Technologies LLC lifted its stake in Plumas Bancorp by 42.8% during the 4th quarter. Renaissance Technologies LLC now owns 18,999 shares of the financial services provider's stock valued at $898,000 after acquiring an additional 5,699 shares during the period. Hedge funds and other institutional investors own 41.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James reissued an "outperform" rating and set a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th. 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 research note on Thursday, April 17th.

Plumas Bancorp Price Performance

PLBC opened at $43.83 on Tuesday. The stock has a market cap of $259.47 million, a P/E ratio of 9.15 and a beta of 0.65. The firm has a fifty day moving average price of $42.68 and a 200 day moving average price of $44.90. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33.

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

Plumas Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, May 1st. Plumas Bancorp's dividend payout ratio (DPR) is presently 24.29%.

Insider Transactions at Plumas Bancorp

In related news, Director Michael Kevin Foster purchased 1,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $45.67 per share, with a total value of $45,670.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $45,670. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.70% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.