Rhumbline Advisers Decreases Stake in Plumas Bancorp (NASDAQ:PLBC)

Rhumbline Advisers reduced its stake in Plumas Bancorp (NASDAQ:PLBC) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,683 shares of the financial services provider’s stock after selling 281 shares during the period. Rhumbline Advisers’ holdings in Plumas Bancorp were worth $246,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Plumas Bancorp by 4,382.1% during the first quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,227 shares during the period. Putney Financial Group LLC purchased a new position in shares of Plumas Bancorp during the fourth quarter valued at approximately $571,000. Deutsche Bank AG increased its stake in shares of Plumas Bancorp by 68.0% during the fourth quarter. Deutsche Bank AG now owns 5,031 shares of the financial services provider’s stock valued at $238,000 after buying an additional 2,036 shares during the period. Corton Capital Inc. purchased a new position in shares of Plumas Bancorp during the fourth quarter valued at approximately $267,000. Finally, Citadel Advisors LLC increased its stake in shares of Plumas Bancorp by 64.1% during the fourth quarter. Citadel Advisors LLC now owns 9,187 shares of the financial services provider’s stock valued at $434,000 after buying an additional 3,587 shares during the period. 41.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th.

Plumas Bancorp Stock Up 1.6%

Shares of PLBC stock opened at $43.85 on Wednesday. The stock has a market cap of $260.03 million, a price-to-earnings ratio of 8.88 and a beta of 0.62. The business’s fifty day moving average is $43.20 and its 200 day moving average is $44.39. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. The company had revenue of $21.50 million for the quarter, compared to analysts’ expectations of $20.62 million. Plumas Bancorp had a return on equity of 16.58% and a net margin of 31.18%. During the same period in the prior year, the firm earned $1.05 earnings per share. Equities research analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.74%. The ex-dividend date was Thursday, May 1st. Plumas Bancorp’s dividend payout ratio (DPR) is 24.29%.

Insiders Place Their Bets

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 581 shares of the stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $43.99 per share, with a total value of $25,558.19. Following the completion of the acquisition, the director now directly owns 1,581 shares in the company, valued at $69,548.19. This trade represents a 58.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.00% 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.