Angel Oak Capital Advisors LLC Acquires 5,000 Shares of Plumas Bancorp $PLBC

Angel Oak Capital Advisors LLC boosted its holdings in shares of Plumas Bancorp (NASDAQ:PLBC) by 23.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,700 shares of the financial services provider’s stock after buying an additional 5,000 shares during the quarter. Plumas Bancorp makes up approximately 1.7% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 16th largest position. Angel Oak Capital Advisors LLC owned approximately 0.45% of Plumas Bancorp worth $1,187,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in shares of Plumas Bancorp during the 1st quarter worth approximately $78,000. Jane Street Group LLC bought a new position in Plumas Bancorp during the first quarter worth $255,000. Corton Capital Inc. increased its holdings in shares of Plumas Bancorp by 17.5% in the first quarter. Corton Capital Inc. now owns 6,630 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 988 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Plumas Bancorp in the second quarter valued at about $416,000. Finally, Elizabeth Park Capital Advisors Ltd. raised its position in shares of Plumas Bancorp by 5.9% in the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider’s stock valued at $2,327,000 after purchasing an additional 3,000 shares during the period. 41.68% of the stock is owned by institutional investors and hedge funds.

Plumas Bancorp Trading Up 0.0%

Shares of Plumas Bancorp stock opened at $42.43 on Friday. The company has a market cap of $295.14 million, a PE ratio of 9.94 and a beta of 0.69. The company has a 50 day moving average of $42.52 and a 200-day moving average of $43.03. Plumas Bancorp has a 1-year low of $38.71 and a 1-year high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $0.66 by $0.69. Plumas Bancorp had a net margin of 25.80% and a return on equity of 16.52%. The business had revenue of $27.42 million during the quarter, compared to the consensus estimate of $28.07 million. Research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 3rd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 3rd. Plumas Bancorp’s dividend payout ratio is currently 28.10%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a report on Friday, October 31st. Piper Sandler cut their price objective on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $57.00.

Insiders Place Their Bets

In related news, EVP Aaron M. Boigon sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $41.09, for a total value of $61,635.00. Following the sale, the executive vice president directly owned 4,100 shares of the company’s stock, valued at $168,469. This trade represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.00% of the stock is owned by company insiders.

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.