Corton Capital Inc. Has $215,000 Position in Plumas Bancorp $PLBC

Corton Capital Inc. lowered its position in Plumas Bancorp (NASDAQ:PLBC) by 26.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,847 shares of the financial services provider’s stock after selling 1,783 shares during the period. Corton Capital Inc.’s holdings in Plumas Bancorp were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in Plumas Bancorp during the first quarter worth approximately $42,000. Acadian Asset Management LLC bought a new stake in Plumas Bancorp during the first quarter worth approximately $78,000. Rice Hall James & Associates LLC bought a new stake in Plumas Bancorp during the first quarter worth approximately $240,000. Jane Street Group LLC bought a new stake in Plumas Bancorp during the first quarter worth approximately $255,000. Finally, Allworth Financial LP boosted its position in Plumas Bancorp by 75.3% during the first quarter. Allworth Financial LP now owns 7,193 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 3,090 shares during the period. Institutional investors and hedge funds own 41.68% of the company’s stock.

Plumas Bancorp Trading Down 1.0%

PLBC opened at $40.65 on Tuesday. Plumas Bancorp has a 1-year low of $38.71 and a 1-year high of $51.33. The stock has a market capitalization of $282.40 million, a price-to-earnings ratio of 9.52 and a beta of 0.68. The business has a 50 day moving average of $42.81 and a 200-day moving average of $43.06.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.69. Plumas Bancorp had a return on equity of 16.52% and a net margin of 25.80%.The company had revenue of $27.42 million during the quarter, compared to analysts’ expectations of $28.07 million. Equities analysts predict that Plumas Bancorp will post 4.51 EPS for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 3rd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 3rd. Plumas Bancorp’s dividend payout ratio is currently 28.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLBC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research report on Friday. Piper Sandler decreased their target price on Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price (up previously from $48.00) on shares of Plumas Bancorp in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $57.00.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Aaron M. Boigon sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $41.09, for a total value of $61,635.00. Following the completion of the sale, the executive vice president directly owned 4,100 shares of the company’s stock, valued at approximately $168,469. This represents a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

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.