Deutsche Bank AG Buys 2,036 Shares of Plumas Bancorp (NASDAQ:PLBC)

Deutsche Bank AG boosted its stake in Plumas Bancorp (NASDAQ:PLBC) by 68.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,031 shares of the financial services provider’s stock after purchasing an additional 2,036 shares during the quarter. Deutsche Bank AG owned about 0.09% of Plumas Bancorp worth $238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in Plumas Bancorp in the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC increased its holdings 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 worth $52,000 after acquiring an additional 904 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Plumas Bancorp in the fourth quarter worth about $105,000. Wells Fargo & Company MN increased its holdings in shares of Plumas Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 703 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Plumas Bancorp in the fourth quarter worth about $222,000. Institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Price Performance

Shares of Plumas Bancorp stock opened at $43.20 on Monday. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The business has a 50-day moving average of $42.99 and a two-hundred day moving average of $45.04. The company has a market capitalization of $256.13 million, a P/E ratio of 9.02 and a beta of 0.65.

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

Plumas Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.78%. Plumas Bancorp’s payout ratio is presently 24.29%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, April 17th.

Insider Buying and Selling

In other news, Director Michael Kevin Foster acquired 581 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $43.99 per share, for a total transaction of $25,558.19. Following the completion of the acquisition, the director now owns 1,581 shares in the company, valued at $69,548.19. This represents a 58.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is owned by corporate insiders.

Plumas Bancorp Company Profile

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.