Plumas Bancorp (NASDAQ:PLBC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in Plumas Bancorp (NASDAQ:PLBC) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,526 shares of the financial services provider’s stock after buying an additional 9,328 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Plumas Bancorp were worth $6,954,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Plumas Bancorp by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after buying an additional 290 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Plumas Bancorp by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 2,036 shares during the period. Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Plumas Bancorp during the 2nd quarter worth $1,247,000. Dimensional Fund Advisors LP lifted its stake in shares of Plumas Bancorp by 6.5% during the 2nd 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 during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Plumas Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after purchasing an additional 1,862 shares during the period. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Insider Activity at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total value of $106,204.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stephens assumed coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price target on the stock. Raymond James increased their price target on Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd.

Plumas Bancorp Stock Down 0.8 %

PLBC stock opened at $49.00 on Thursday. The company has a market cap of $288.95 million, a price-to-earnings ratio of 10.27 and a beta of 0.70. The business has a fifty day simple moving average of $43.57 and a 200-day simple moving average of $39.88. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. The business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. As a group, analysts expect that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.27 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.08 annualized dividend and a yield of 2.20%. Plumas Bancorp’s dividend payout ratio is currently 22.64%.

About Plumas Bancorp

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.