Picton Mahoney Asset Management Makes New $32,000 Investment in Plumas Bancorp (NASDAQ:PLBC)

Picton Mahoney Asset Management acquired a new stake in shares of Plumas Bancorp (NASDAQ:PLBC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 678 shares of the financial services provider’s stock, valued at approximately $32,000.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Plumas Bancorp by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after buying an additional 6,075 shares during the last quarter. Angel Oak Capital Advisors LLC purchased a new position in shares of Plumas Bancorp in the 4th quarter worth about $1,026,000. BNP Paribas Financial Markets lifted its stake in shares of Plumas Bancorp by 533.8% in the 3rd 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. The Manufacturers Life Insurance Company grew its holdings in shares of Plumas Bancorp by 5.8% during the 3rd 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. Finally, JPMorgan Chase & Co. increased its position in Plumas Bancorp by 129.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 4,305 shares in the last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Plumas Bancorp

In related news, Director Michael Kevin Foster purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $45.67 per share, with a total value of $45,670.00. Following the completion of 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.00% of the company’s stock.

Plumas Bancorp Stock Performance

Plumas Bancorp stock opened at $42.49 on Tuesday. The firm has a market capitalization of $250.56 million, a PE ratio of 8.87 and a beta of 0.72. Plumas Bancorp has a one year low of $32.50 and a one year high of $51.33. The stock’s 50 day moving average price is $45.12 and its 200 day moving average price is $44.47.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. On average, analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. Plumas Bancorp’s dividend payout ratio (DPR) is currently 25.05%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stephens initiated coverage on shares of Plumas Bancorp in a research report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price target on the stock. Raymond James reissued an “outperform” rating and issued a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th. Finally, Piper Sandler assumed coverage on shares of Plumas Bancorp in a research report on Thursday, February 27th. They set an “overweight” rating and a $60.00 price target for the company.

Plumas Bancorp 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.