Key Points
- Director Michael Kevin Foster bought 470 shares of Plumas Bancorp at $51.25 each, a transaction worth about $24,087.50. The purchase lifted his direct holdings to 3,450 shares, a 15.77% increase in his position.
- Plumas Bancorp recently reported better-than-expected quarterly earnings of $1.38 per share, topping the $1.31 consensus estimate. Revenue also came in above forecasts at $28.14 million.
- The company declared a quarterly dividend of $0.33 per share, equal to an annualized yield of 2.6%. Market sentiment remains positive, with analysts holding a consensus Buy rating and a target price of $57.67.
Plumas Bancorp (NASDAQ:PLBC - Get Free Report) Director Michael Kevin Foster bought 470 shares of Plumas Bancorp stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $51.25 per share, with a total value of $24,087.50. Following the completion of the acquisition, the director directly owned 3,450 shares in the company, valued at approximately $176,812.50. The trade was a 15.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Plumas Bancorp Stock Up 0.5%
Plumas Bancorp stock opened at $51.51 on Wednesday. Plumas Bancorp has a fifty-two week low of $39.70 and a fifty-two week high of $54.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $359.02 million, a P/E ratio of 10.91 and a beta of 0.61. The stock has a 50-day simple moving average of $50.29 and a 200-day simple moving average of $47.53.
Plumas Bancorp (NASDAQ:PLBC - Get Free Report) last posted 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 business had revenue of $28.14 million during the quarter, compared to the consensus estimate of $27.24 million. Equities research analysts expect that Plumas Bancorp will post 5.64 earnings per share for the current year.
Plumas Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, May 1st. Plumas Bancorp's payout ratio is presently 27.97%.
Institutional Trading of Plumas Bancorp
Several institutional investors and hedge funds have recently added to or reduced their stakes in PLBC. EverSource Wealth Advisors LLC raised its stake in Plumas Bancorp by 44,800.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 898 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 896 shares during the last quarter. Blue Trust Inc. acquired a new position in Plumas Bancorp during the 1st quarter worth approximately $40,000. Abound Financial LLC acquired a new position in Plumas Bancorp during the 4th quarter worth approximately $43,000. CWM LLC increased its position in Plumas Bancorp by 408.9% during the 3rd quarter. CWM LLC now owns 1,089 shares of the financial services provider's stock worth $47,000 after purchasing an additional 875 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Plumas Bancorp by 33.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider's stock worth $53,000 after purchasing an additional 305 shares during the period. 41.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on PLBC shares. Wall Street Zen raised Plumas Bancorp from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler upped their price objective on Plumas Bancorp from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Stephens upped their price objective on Plumas Bancorp from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Plumas Bancorp in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $57.67.
Read Our Latest Report on Plumas Bancorp
About Plumas Bancorp
(
Get Free Report)
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.
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