Rhumbline Advisers Has $246,000 Stock Position in Plumas Bancorp $PLBC

Rhumbline Advisers decreased its holdings in shares of Plumas Bancorp (NASDAQ:PLBC) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,683 shares of the financial services provider’s stock after selling 281 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Plumas Bancorp worth $246,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Abound Financial LLC acquired a new position in shares of Plumas Bancorp during the 1st quarter worth $42,000. Copeland Capital Management LLC acquired a new position in Plumas Bancorp in the 1st quarter valued at $53,000. GAMMA Investing LLC grew its stake in Plumas Bancorp by 4,382.1% in the 1st 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 last quarter. Acadian Asset Management LLC acquired a new position in Plumas Bancorp in the 1st quarter valued at $78,000. Finally, Deutsche Bank AG grew its stake in Plumas Bancorp by 68.0% in the 4th 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 last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

Insider Transactions at Plumas Bancorp

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLBC. Piper Sandler lowered their target price 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 reiterated an “outperform” rating and issued a $50.00 target price (up from $48.00) on shares of Plumas Bancorp in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $58.00.

Plumas Bancorp Price Performance

Shares of Plumas Bancorp stock opened at $43.10 on Friday. Plumas Bancorp has a fifty-two week low of $37.69 and a fifty-two week high of $51.33. The firm has a fifty day moving average price of $42.68 and a two-hundred day moving average price of $43.13. The company has a market cap of $299.55 million, a PE ratio of 8.89 and a beta of 0.68.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.15). The company had revenue of $20.54 million during the quarter, compared to the consensus estimate of $21.00 million. Plumas Bancorp had a net margin of 30.81% and a return on equity of 15.71%. During the same period last year, the company earned $1.14 earnings per share. Analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

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

Plumas Bancorp 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.