Northern Trust Corp Boosts Stake in Plumas Bancorp (NASDAQ:PLBC)

Northern Trust Corp raised its stake in shares of Plumas Bancorp (NASDAQ:PLBC) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,613 shares of the financial services provider’s stock after buying an additional 1,227 shares during the quarter. Northern Trust Corp owned about 0.72% of Plumas Bancorp worth $2,014,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Plumas Bancorp by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 171,063 shares of the financial services provider’s stock valued at $8,084,000 after acquiring an additional 537 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Plumas Bancorp during the fourth quarter worth about $222,000. Tower Research Capital LLC TRC raised its position in shares of Plumas Bancorp by 447.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock valued at $52,000 after buying an additional 904 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Plumas Bancorp by 3.9% during 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 buying an additional 3,121 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Plumas Bancorp during the fourth quarter worth approximately $405,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Wall Street Analysts Forecast Growth

PLBC has been the subject of several recent analyst reports. Piper Sandler lowered their target price on shares of Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and issued a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th.

Plumas Bancorp Stock Performance

PLBC stock opened at $43.73 on Monday. The stock has a market capitalization of $259.28 million, a P/E ratio of 9.13 and a beta of 0.65. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33. The company has a 50 day moving average price of $42.98 and a two-hundred day moving average price of $45.11.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. The company had revenue of $21.50 million during the quarter, compared to analysts’ expectations of $20.62 million. During the same period in the previous year, the company earned $1.05 EPS. Research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. Plumas Bancorp’s dividend payout ratio is presently 24.29%.

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.