The Manufacturers Life Insurance Company Buys 537 Shares of Plumas Bancorp (NASDAQ:PLBC)

The Manufacturers Life Insurance Company raised its stake in shares of Plumas Bancorp (NASDAQ:PLBC) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 171,063 shares of the financial services provider’s stock after purchasing an additional 537 shares during the period. The Manufacturers Life Insurance Company owned 2.90% of Plumas Bancorp worth $8,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Angel Oak Capital Advisors LLC bought a new position in shares of Plumas Bancorp during the 4th quarter valued at approximately $1,026,000. JPMorgan Chase & Co. lifted its holdings 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 valued at $311,000 after purchasing an additional 4,305 shares in the last quarter. 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 worth $292,000 after purchasing an additional 5,249 shares during the period. Renaissance Technologies LLC increased its stake in shares of Plumas Bancorp by 42.8% in the fourth quarter. Renaissance Technologies LLC now owns 18,999 shares of the financial services provider’s stock worth $898,000 after purchasing an additional 5,699 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Plumas Bancorp by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Insider Activity

In other Plumas Bancorp news, Director Michael Kevin Foster bought 1,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $45,670. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.70% of the company’s stock.

Plumas Bancorp Stock Performance

PLBC opened at $43.83 on Tuesday. The stock has a market capitalization of $259.47 million, a price-to-earnings ratio of 9.15 and a beta of 0.65. The company has a fifty day moving average of $42.68 and a 200 day moving average of $44.90. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The firm had revenue of $21.50 million during the quarter, compared to analyst estimates of $20.62 million. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. During the same quarter last year, the business posted $1.05 earnings per share. On average, equities research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. Plumas Bancorp’s dividend payout ratio (DPR) is 24.29%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler dropped their target price on shares of Plumas Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. 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.

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.