Raymond James Financial Inc. Buys New Shares in Plumas Bancorp (NASDAQ:PLBC)

Raymond James Financial Inc. acquired a new stake in Plumas Bancorp (NASDAQ:PLBC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,025 shares of the financial services provider's stock, valued at approximately $899,000. Raymond James Financial Inc. owned approximately 0.32% of Plumas Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Plumas Bancorp by 533.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 4,938 shares in the last quarter. State Street Corp lifted its stake in Plumas Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider's stock valued at $2,809,000 after purchasing an additional 2,526 shares during the last quarter. Jane Street Group LLC boosted its position in Plumas Bancorp by 7.9% in the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider's stock valued at $253,000 after buying an additional 457 shares in the last quarter. Barclays PLC grew its stake in shares of Plumas Bancorp by 275.4% during the third quarter. Barclays PLC now owns 7,155 shares of the financial services provider's stock worth $292,000 after buying an additional 5,249 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Plumas Bancorp by 5.2% during the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider's stock worth $5,033,000 after buying an additional 6,075 shares during the last quarter. Institutional investors own 41.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLBC shares. Piper Sandler started coverage on Plumas Bancorp in a report on Thursday, February 27th. They set an "overweight" rating and a $60.00 price objective on the stock. 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 report on Thursday, January 30th.

Plumas Bancorp Stock Up 1.4 %

Shares of PLBC stock traded up $0.57 during trading hours on Wednesday, hitting $42.38. 38,138 shares of the company's stock traded hands, compared to its average volume of 10,845. 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 $250.89 million, a PE ratio of 8.85 and a beta of 0.55. The stock's 50 day simple moving average is $44.19 and its 200 day simple moving average is $44.70.

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. As a group, equities research analysts expect that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from Plumas Bancorp's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 2.83%. Plumas Bancorp's dividend payout ratio is presently 25.05%.

Insider Activity at Plumas Bancorp

In other news, Director Michael Kevin Foster purchased 1,000 shares of the business's stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $45.67 per share, with a total value of $45,670.00. Following the completion of the transaction, the director now owns 1,000 shares of the company's stock, valued at $45,670. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is currently owned by company insiders.

Plumas Bancorp 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.