Insider Selling: Plumas Bancorp (NASDAQ:PLBC) Director Sells 300 Shares of Stock

Plumas Bancorp (NASDAQ:PLBC) Director Richard Francis Kenny sold 300 shares of Plumas Bancorp stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $47.00, for a total value of $14,100.00. Following the transaction, the director now owns 9,507 shares in the company, valued at approximately $446,829. This represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Plumas Bancorp Stock Up 0.9 %

Shares of PLBC stock opened at $46.93 on Friday. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $47.56. The firm has a fifty day moving average of $42.29 and a 200-day moving average of $38.99. The company has a market capitalization of $276.75 million, a price-to-earnings ratio of 9.84 and a beta of 0.67.

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 analysts’ consensus estimates of $1.14 by $0.17. The business had revenue of $24.10 million for the quarter, compared to analyst estimates of $20.60 million. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. On average, equities analysts expect that Plumas Bancorp will post 4.66 EPS for the current year.

Plumas Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.27 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.08 annualized dividend and a yield of 2.30%. Plumas Bancorp’s payout ratio is currently 22.64%.

Hedge Funds Weigh In On Plumas Bancorp

A number of large investors have recently modified their holdings of PLBC. BNP Paribas Financial Markets raised its holdings in Plumas Bancorp by 32.8% during the first quarter. BNP Paribas Financial Markets now owns 11,570 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 2,856 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Plumas Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after buying an additional 1,862 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Plumas Bancorp in the 1st quarter valued at about $589,000. Bank of New York Mellon Corp grew its holdings in Plumas Bancorp by 7.4% during the second 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. Finally, Rhumbline Advisers boosted its stake in shares of Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 290 shares during the period. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James lifted their price objective on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

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.