Daytona Street Capital LLC Acquires Shares of 12,236 Plumas Bancorp $PLBC

Daytona Street Capital LLC bought a new position in Plumas Bancorp (NASDAQ:PLBC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,236 shares of the financial services provider’s stock, valued at approximately $547,000. Daytona Street Capital LLC owned about 0.18% of Plumas Bancorp as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Plumas Bancorp by 5.2% in the third quarter. Vanguard Group Inc. now owns 306,458 shares of the financial services provider’s stock worth $13,221,000 after buying an additional 15,080 shares during the last quarter. Siena Capital Partners GP LLC boosted its stake in shares of Plumas Bancorp by 30.5% in the third quarter. Siena Capital Partners GP LLC now owns 286,752 shares of the financial services provider’s stock worth $12,370,000 after buying an additional 66,950 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Plumas Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider’s stock worth $8,016,000 after purchasing an additional 6,637 shares during the period. Caldwell Sutter Capital Inc. grew its stake in shares of Plumas Bancorp by 13,110.5% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 105,684 shares of the financial services provider’s stock worth $4,559,000 after purchasing an additional 104,884 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Plumas Bancorp by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 103,639 shares of the financial services provider’s stock worth $4,471,000 after purchasing an additional 5,124 shares during the period. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Insider Transactions at Plumas Bancorp

In related news, Director Kenneth Edward Robison III sold 800 shares of Plumas Bancorp stock in a transaction on Friday, February 20th. The shares were sold at an average price of $52.76, for a total value of $42,208.00. Following the sale, the director owned 1,875 shares of the company’s stock, valued at approximately $98,925. This trade represents a 29.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler dropped their price objective on shares of Plumas Bancorp from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Plumas Bancorp currently has an average rating of “Buy” and an average price target of $54.50.

Plumas Bancorp Price Performance

Shares of NASDAQ PLBC opened at $49.98 on Tuesday. The stock has a market capitalization of $348.86 million, a price-to-earnings ratio of 11.01 and a beta of 0.59. Plumas Bancorp has a 12 month low of $38.71 and a 12 month high of $54.58. The firm’s 50 day simple moving average is $50.48 and its 200-day simple moving average is $46.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. Plumas Bancorp had a net margin of 26.40% and a return on equity of 15.32%. The business had revenue of $20.99 million for the quarter, compared to analysts’ expectations of $27.39 million. Analysts expect that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.30. Plumas Bancorp’s dividend payout ratio is 29.07%.

Plumas Bancorp Company Profile

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.