Plumas Bancorp (NASDAQ:PLBC) CFO Buys $12,810.00 in Stock

Plumas Bancorp (NASDAQ:PLBC) CFO Richard L. Belstock acquired 300 shares of Plumas Bancorp stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $42.70 per share, with a total value of $12,810.00. Following the purchase, the chief financial officer now owns 47,135 shares in the company, valued at $2,012,664.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Plumas Bancorp Stock Down 2.1 %

PLBC stock traded down $0.89 during midday trading on Thursday, hitting $42.16. 5,955 shares of the company traded hands, compared to its average volume of 9,049. The business has a 50 day simple moving average of $40.45 and a 200-day simple moving average of $37.73. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $45.00. The stock has a market capitalization of $248.74 million, a price-to-earnings ratio of 8.84 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.14 by $0.17. The firm had revenue of $24.10 million for the quarter, compared to the consensus estimate of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.97%. Equities research analysts forecast that Plumas Bancorp will post 4.66 EPS for the current year.

Plumas Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 1st. This represents a $1.08 annualized dividend and a yield of 2.56%. Plumas Bancorp’s payout ratio is 22.64%.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Plumas Bancorp in the second quarter worth $1,247,000. Kennedy Capital Management LLC bought a new stake in Plumas Bancorp in the 1st quarter valued at $589,000. Dimensional Fund Advisors LP grew its position in Plumas Bancorp by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 4,838 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Plumas Bancorp by 32.8% during the 1st quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 2,856 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Plumas Bancorp by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 2,036 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James raised their target price on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

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.