Insider Buying: Plumas Bancorp (NASDAQ:PLBC) Director Purchases $24,087.50 in Stock

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster bought 470 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $51.25 per share, with a total value of $24,087.50. Following the purchase, the director owned 3,450 shares in the company, valued at $176,812.50. This trade represents a 15.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Plumas Bancorp Price Performance

Shares of NASDAQ:PLBC opened at $51.44 on Friday. The business has a 50 day moving average price of $50.31 and a 200 day moving average price of $47.67. Plumas Bancorp has a twelve month low of $39.70 and a twelve month high of $54.58. The company has a market cap of $358.54 million, a price-to-earnings ratio of 10.90 and a beta of 0.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Plumas Bancorp had a return on equity of 15.16% and a net margin of 26.67%.The firm had revenue of $28.14 million during the quarter, compared to the consensus estimate of $27.24 million. Research analysts predict that Plumas Bancorp will post 5.64 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be given a $0.33 dividend. The ex-dividend date is Friday, May 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.6%. Plumas Bancorp’s dividend payout ratio (DPR) is currently 27.97%.

Hedge Funds Weigh In On Plumas Bancorp

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Plumas Bancorp by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 123,750 shares of the financial services provider’s stock worth $6,041,000 after buying an additional 13,342 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Plumas Bancorp in the 1st quarter worth approximately $378,000. My Personal CFO LLC acquired a new position in shares of Plumas Bancorp in the 1st quarter worth approximately $206,000. Blue Trust Inc. acquired a new position in shares of Plumas Bancorp in the 1st quarter worth approximately $40,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Plumas Bancorp in the 4th quarter worth approximately $415,000. 41.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Plumas Bancorp in a research report on Monday, April 27th. Piper Sandler raised their price objective on Plumas Bancorp from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen upgraded Plumas Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Stephens raised their price objective on Plumas Bancorp from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Plumas Bancorp has an average rating of “Buy” and an average price target of $57.67.

About Plumas Bancorp

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.