BNP Paribas Financial Markets Grows Stock Holdings in Plumas Bancorp (NASDAQ:PLBC)

BNP Paribas Financial Markets increased its holdings in shares of Plumas Bancorp (NASDAQ:PLBC) by 533.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,863 shares of the financial services provider’s stock after purchasing an additional 4,938 shares during the period. BNP Paribas Financial Markets’ holdings in Plumas Bancorp were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLBC. Bank of New York Mellon Corp grew its position 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 valued at $1,058,000 after buying an additional 2,036 shares during the period. Rhumbline Advisers raised its holdings in Plumas Bancorp by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 290 shares during the period. Dimensional Fund Advisors LP boosted its position in 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. Elizabeth Park Capital Advisors Ltd. acquired a new stake in Plumas Bancorp in the second quarter valued at approximately $1,247,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Plumas Bancorp by 5.8% in the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after buying an additional 9,328 shares in the last quarter. 41.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

Plumas Bancorp Price Performance

NASDAQ PLBC opened at $49.14 on Tuesday. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $51.33. The company has a market capitalization of $289.78 million, a price-to-earnings ratio of 10.30 and a beta of 0.70. The firm’s fifty day moving average price is $44.84 and its 200 day moving average price is $40.59.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $20.60 million. As a group, sell-side analysts forecast that Plumas Bancorp will post 4.72 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

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

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.