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

Plumas Bancorp (NASDAQ:PLBC) Director Michael Kevin Foster bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $45.67 per share, for a total transaction of $45,670.00. Following 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Plumas Bancorp Stock Down 1.6 %

Shares of PLBC opened at $44.24 on Friday. The company has a market capitalization of $261.02 million, a price-to-earnings ratio of 9.24 and a beta of 0.70. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $51.33. The stock’s 50-day moving average price is $46.23 and its 200-day moving average price is $43.84.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Investors of record on Monday, February 3rd were issued a dividend of $0.30 per share. 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. This represents a $1.20 dividend on an annualized basis and a yield of 2.71%. Plumas Bancorp’s dividend payout ratio is 25.05%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stephens started coverage on shares of Plumas Bancorp in a research note 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 target price (up previously from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th.

Institutional Trading of Plumas Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLBC. The Manufacturers Life Insurance Company raised its position in shares of Plumas Bancorp by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 171,063 shares of the financial services provider’s stock worth $8,084,000 after acquiring an additional 537 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Plumas Bancorp by 5.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after purchasing an additional 9,328 shares in the last quarter. De Lisle Partners LLP raised its holdings in Plumas Bancorp by 61.5% in the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after purchasing an additional 57,051 shares during the period. Geode Capital Management LLC boosted its position in 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 purchasing an additional 6,075 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Plumas Bancorp by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,391 shares of the financial services provider’s stock valued at $3,941,000 after purchasing an additional 3,121 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.

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.