State Street Corp Buys 2,526 Shares of Plumas Bancorp (NASDAQ:PLBC)

State Street Corp boosted its stake in Plumas Bancorp (NASDAQ:PLBC) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 68,879 shares of the financial services provider’s stock after acquiring an additional 2,526 shares during the period. State Street Corp’s holdings in Plumas Bancorp were worth $2,809,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position 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 buying an additional 290 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 acquiring an additional 2,036 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $2,847,000 after purchasing an additional 4,838 shares during the period. BNP Paribas Financial Markets increased its stake in 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 purchasing an additional 4,938 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in 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 worth $6,954,000 after purchasing an additional 9,328 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Stock Performance

Shares of PLBC opened at $47.26 on Wednesday. The firm has a market cap of $278.69 million, a P/E ratio of 9.91 and a beta of 0.70. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33. The firm’s 50 day moving average price is $46.57 and its two-hundred day moving average price is $41.68.

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

Plumas Bancorp Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, November 1st. This represents a $1.08 annualized dividend and a dividend yield of 2.29%. Plumas Bancorp’s dividend payout ratio is currently 22.64%.

Insider Buying and Selling

In related news, EVP Bj North sold 2,496 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.