Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster Buys 1,000 Shares

Plumas Bancorp (NASDAQ:PLBC - Get Free Report) Director Michael Kevin Foster purchased 1,000 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the purchase, the director now directly owns 1,000 shares of the company's stock, valued at $45,670. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Plumas Bancorp Stock Up 2.1 %

Shares of Plumas Bancorp stock traded up $0.93 during trading on Tuesday, reaching $45.38. 10,184 shares of the company were exchanged, compared to its average volume of 10,469. The business has a 50-day moving average price of $46.14 and a 200-day moving average price of $43.93. The firm has a market capitalization of $267.61 million, a price-to-earnings ratio of 9.47 and a beta of 0.70. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33.

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

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Plumas Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from Plumas Bancorp's previous quarterly dividend of $0.27. Plumas Bancorp's dividend payout ratio is presently 25.05%.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Plumas Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider's stock valued at $5,033,000 after buying an additional 6,075 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Plumas Bancorp by 533.8% in the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider's stock worth $239,000 after acquiring an additional 4,938 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Plumas Bancorp by 5.8% in the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider's stock worth $6,954,000 after acquiring an additional 9,328 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Plumas Bancorp by 129.8% during the third quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider's stock worth $311,000 after purchasing an additional 4,305 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Plumas Bancorp by 275.4% during the 3rd quarter. Barclays PLC now owns 7,155 shares of the financial services provider's stock valued at $292,000 after purchasing an additional 5,249 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on PLBC shares. Stephens initiated coverage on Plumas Bancorp in a report on Wednesday, November 27th. They set an "overweight" rating and a $60.00 price objective for the company. Raymond James reissued an "outperform" rating and set a $54.00 price target (up from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th.

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.