Punch & Associates Investment Management Inc. Makes New Investment in Plumas Bancorp $PLBC

Punch & Associates Investment Management Inc. purchased a new stake in Plumas Bancorp (NASDAQ:PLBC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 65,528 shares of the financial services provider’s stock, valued at approximately $3,829,000. Punch & Associates Investment Management Inc. owned approximately 0.94% of Plumas Bancorp at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of Plumas Bancorp in the 2nd quarter worth $39,000. Blue Trust Inc. acquired a new stake in Plumas Bancorp during the first quarter worth about $40,000. Abound Financial LLC purchased a new position in Plumas Bancorp during the fourth quarter worth about $43,000. BNP Paribas Financial Markets boosted its holdings in Plumas Bancorp by 33.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Plumas Bancorp by 623.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,410 shares during the period. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Wall Street Analysts Forecast Growth

PLBC has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Stephens increased their price objective on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Wall Street Zen raised Plumas Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Raymond James Financial restated an “outperform” rating and issued a $66.00 target price on shares of Plumas Bancorp in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Plumas Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $66.33.

Plumas Bancorp Stock Performance

Shares of PLBC stock opened at $61.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $424.98 million, a P/E ratio of 12.02 and a beta of 0.60. The firm’s 50 day moving average price is $60.20 and its 200-day moving average price is $54.58. Plumas Bancorp has a one year low of $39.80 and a one year high of $64.00.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.04. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.41%. The firm had revenue of $28.76 million during the quarter, compared to the consensus estimate of $28.02 million. As a group, equities research analysts predict that Plumas Bancorp will post 5.71 EPS for the current year.

Plumas Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, August 3rd. Plumas Bancorp’s payout ratio is currently 25.98%.

Insider Activity

In related news, EVP Kevin Craig Kaiser sold 1,200 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $61.50, for a total value of $73,800.00. Following the sale, the executive vice president owned 719 shares in the company, valued at approximately $44,218.50. The trade was a 62.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Plumas Bancorp Profile

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.