Bank of New York Mellon Corp Has $1.38 Million Holdings in Plumas Bancorp (NASDAQ:PLBC)

Bank of New York Mellon Corp grew its holdings in Plumas Bancorp (NASDAQ:PLBC) by 14.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,184 shares of the financial services provider’s stock after acquiring an additional 3,760 shares during the quarter. Bank of New York Mellon Corp’s holdings in Plumas Bancorp were worth $1,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLBC. SG Americas Securities LLC acquired a new position in Plumas Bancorp during the fourth quarter worth $105,000. BNP Paribas Financial Markets boosted its position in shares of 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 during the period. Jane Street Group LLC boosted its position in shares of Plumas Bancorp by 7.9% in the third 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 during the period. Barclays PLC boosted its position in shares of Plumas Bancorp by 275.4% in the third quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 5,249 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Plumas Bancorp by 129.8% during the third quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 4,305 shares during the period. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plumas Bancorp

In other news, Director Michael Kevin Foster purchased 1,000 shares of the company’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 in the company, valued at approximately $45,670. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.00% of the stock is owned by company insiders.

Plumas Bancorp Stock Down 3.9 %

Shares of NASDAQ PLBC opened at $42.66 on Monday. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $51.33. The business has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $44.55. The company has a market cap of $252.55 million, a P/E ratio of 8.91 and a beta of 0.72.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. Equities research analysts anticipate that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.30 per share. This is an increase 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 2.81%. The ex-dividend date was Monday, February 3rd. Plumas Bancorp’s dividend payout ratio is presently 25.05%.

Analyst Ratings Changes

Several research firms recently weighed in on PLBC. Stephens initiated coverage on shares of Plumas Bancorp in a research report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and issued a $54.00 price objective (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th. Finally, Piper Sandler assumed coverage on Plumas Bancorp in a report on Thursday, February 27th. They issued an “overweight” rating and a $60.00 target price on the stock.

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.