Punch & Associates Investment Management Inc. purchased a new stake in Plumas Bancorp (NASDAQ:PLBC – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 65,528 shares of the financial services provider’s stock, valued at approximately $3,829,000.
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Plumas Bancorp in the second quarter valued at $39,000. Blue Trust Inc. purchased a new stake in Plumas Bancorp during the 1st quarter worth about $40,000. Abound Financial LLC purchased a new stake in Plumas Bancorp during the 4th quarter worth about $43,000. BNP Paribas Financial Markets boosted its stake in shares of Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after buying an additional 305 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Plumas Bancorp by 623.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,410 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.
Plumas Bancorp Stock Down 0.8%
Plumas Bancorp stock opened at $61.06 on Thursday. The company has a market capitalization of $424.98 million, a P/E ratio of 12.02 and a beta of 0.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Plumas Bancorp has a fifty-two week low of $39.80 and a fifty-two week high of $64.00. The stock has a 50-day simple moving average of $60.20 and a 200-day simple moving average of $54.58.
Plumas Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. Plumas Bancorp’s dividend payout ratio is currently 25.98%.
Insiders Place Their Bets
In other Plumas Bancorp news, EVP Kevin Craig Kaiser sold 1,200 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $61.50, for a total transaction of $73,800.00. Following the transaction, the executive vice president directly owned 719 shares of the company’s stock, valued at approximately $44,218.50. This trade represents a 62.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.40% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have recently issued reports on PLBC shares. Stephens upped their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Raymond James Financial restated an “outperform” rating and set a $66.00 target price on shares of Plumas Bancorp in a research note on Thursday, July 16th. Wall Street Zen raised Plumas Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Finally, Piper Sandler raised their price objective on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $66.33.
Read Our Latest Report on PLBC
Plumas Bancorp Company Profile
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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