Geode Capital Management LLC Purchases 6,075 Shares of Plumas Bancorp (NASDAQ:PLBC)

Geode Capital Management LLC grew its position in Plumas Bancorp (NASDAQ:PLBC) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,399 shares of the financial services provider’s stock after purchasing an additional 6,075 shares during the quarter. Geode Capital Management LLC’s holdings in Plumas Bancorp were worth $5,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Plumas Bancorp by 5.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after buying an additional 9,328 shares during the period. De Lisle Partners LLP boosted its stake in shares of Plumas Bancorp by 61.5% in the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after acquiring an additional 57,051 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Plumas Bancorp by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 4,838 shares in the last quarter. State Street Corp raised its stake in Plumas Bancorp by 3.8% during the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock valued at $2,809,000 after purchasing an additional 2,526 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new position in Plumas Bancorp in the 2nd quarter worth approximately $1,247,000. 41.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PLBC shares. Raymond James lifted their price objective on shares of Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Stephens started coverage on shares of Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price target on the stock.

Insider Activity at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by insiders.

Plumas Bancorp Stock Up 0.4 %

Plumas Bancorp stock opened at $46.20 on Friday. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33. The firm’s fifty day moving average is $46.85 and its 200 day moving average is $41.83. The company has a market cap of $272.44 million, a price-to-earnings ratio of 9.69 and a beta of 0.71.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.17. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. On average, equities research analysts anticipate that Plumas Bancorp will post 4.72 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, November 1st. Plumas Bancorp’s dividend payout ratio is currently 22.64%.

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.