Elizabeth Park Capital Advisors Ltd. Increases Holdings in Plumas Bancorp (NASDAQ:PLBC)

Elizabeth Park Capital Advisors Ltd. raised its holdings in shares of Plumas Bancorp (NASDAQ:PLBC) by 46.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,778 shares of the financial services provider’s stock after purchasing an additional 16,110 shares during the period. Plumas Bancorp accounts for about 2.0% of Elizabeth Park Capital Advisors Ltd.’s holdings, making the stock its 29th largest holding. Elizabeth Park Capital Advisors Ltd.’s holdings in Plumas Bancorp were worth $2,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PLBC. BNP Paribas Financial Markets boosted its holdings in Plumas Bancorp by 533.8% in the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 4,938 shares in the last quarter. State Street Corp raised its stake in Plumas Bancorp by 3.8% in the third quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock worth $2,809,000 after buying an additional 2,526 shares in the last quarter. Jane Street Group LLC boosted its position in Plumas Bancorp by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 457 shares in the last quarter. Barclays PLC grew its holdings in shares of Plumas Bancorp by 275.4% during the 3rd quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 5,249 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Plumas Bancorp by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after acquiring an additional 6,075 shares in the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Price Performance

PLBC stock opened at $43.00 on Friday. The stock’s fifty day moving average price is $44.53 and its 200-day moving average price is $44.70. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The company has a market cap of $254.56 million, a P/E ratio of 8.98 and a beta of 0.55.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. As a group, analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were given a $0.30 dividend. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Monday, February 3rd. Plumas Bancorp’s dividend payout ratio is presently 25.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLBC. Piper Sandler assumed coverage on Plumas Bancorp in a research note on Thursday, February 27th. They issued an “overweight” rating and a $60.00 price target on the stock. Raymond James reiterated an “outperform” rating and issued a $54.00 price target (up from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th.

Insiders Place Their Bets

In related news, Director Michael Kevin Foster bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $45.67 per share, with a total value of $45,670.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $45,670. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.00% of the stock is currently owned by company 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.