Goldman Sachs Group Inc. Has $577,000 Position in Plumas Bancorp $PLBC

Goldman Sachs Group Inc. reduced its stake in Plumas Bancorp (NASDAQ:PLBC) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,338 shares of the financial services provider’s stock after selling 2,605 shares during the period. Goldman Sachs Group Inc. owned 0.22% of Plumas Bancorp worth $577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Plumas Bancorp by 3.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,014 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 386 shares during the last quarter. Albert D Mason Inc. grew its stake in shares of Plumas Bancorp by 354.3% in the first quarter. Albert D Mason Inc. now owns 33,979 shares of the financial services provider’s stock valued at $1,470,000 after acquiring an additional 26,500 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Plumas Bancorp by 64.1% in the fourth quarter. Citadel Advisors LLC now owns 9,187 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 3,587 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Plumas Bancorp in the first quarter valued at about $240,000. Finally, GAMMA Investing LLC grew its stake in shares of Plumas Bancorp by 4,382.1% in the first quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 1,227 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler decreased their price target on shares of Plumas Bancorp from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, July 17th. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target (up from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $58.00.

Plumas Bancorp Stock Down 0.1%

PLBC opened at $43.10 on Friday. Plumas Bancorp has a twelve month low of $37.69 and a twelve month high of $51.33. The company has a 50-day simple moving average of $42.68 and a 200 day simple moving average of $43.13. The stock has a market capitalization of $299.55 million, a price-to-earnings ratio of 8.89 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). Plumas Bancorp had a return on equity of 15.71% and a net margin of 30.81%.The firm had revenue of $20.54 million for the quarter, compared to the consensus estimate of $21.00 million. During the same period in the prior year, the company earned $1.14 EPS. Sell-side analysts anticipate that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Plumas Bancorp’s dividend payout ratio is 24.74%.

Insider Transactions at Plumas Bancorp

In other news, EVP Aaron M. Boigon sold 1,500 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $41.09, for a total value of $61,635.00. Following the completion of the transaction, the executive vice president owned 4,100 shares of the company’s stock, valued at approximately $168,469. This represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Kevin Foster bought 749 shares of the company’s stock in a transaction dated Monday, July 21st. The stock was bought at an average cost of $42.56 per share, with a total value of $31,877.44. Following the acquisition, the director directly owned 2,330 shares of the company’s stock, valued at approximately $99,164.80. The trade was a 47.38% increase in their position. The disclosure for this purchase can be found here. 7.70% of the stock is currently 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.