The Manufacturers Life Insurance Company Boosts Stake in Plumas Bancorp $PLBC

The Manufacturers Life Insurance Company lifted its holdings in shares of Plumas Bancorp (NASDAQ:PLBC) by 19.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 235,916 shares of the financial services provider’s stock after acquiring an additional 39,176 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Plumas Bancorp were worth $11,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. purchased a new position in Plumas Bancorp in the 1st quarter worth about $40,000. Abound Financial LLC purchased a new stake in shares of Plumas Bancorp during the 4th quarter valued at about $43,000. BNP Paribas Financial Markets grew its stake in shares of Plumas Bancorp by 33.1% in the third quarter. BNP Paribas Financial Markets now owns 1,227 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 305 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Plumas Bancorp by 623.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,636 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,410 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Plumas Bancorp during the first quarter valued at approximately $78,000. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Price Performance

NASDAQ PLBC opened at $61.42 on Tuesday. The company has a 50-day moving average price of $57.59 and a 200-day moving average price of $53.06. Plumas Bancorp has a 52 week low of $39.78 and a 52 week high of $63.74. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $428.10 million, a P/E ratio of 12.09 and a beta of 0.59.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. The company had revenue of $28.76 million for the quarter, compared to the consensus estimate of $28.02 million. Plumas Bancorp had a net margin of 27.39% and a return on equity of 15.63%. Equities research analysts anticipate that Plumas Bancorp will post 5.71 earnings per share for the current year.

Plumas Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a $0.33 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.32 annualized dividend and a yield of 2.1%. Plumas Bancorp’s dividend payout ratio (DPR) is presently 25.98%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLBC. Raymond James Financial restated an “outperform” rating and set a $66.00 price objective on shares of Plumas Bancorp in a research report on Thursday, July 16th. Piper Sandler lifted their target price on shares of Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of Plumas Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Plumas Bancorp in a report on Friday, July 24th. Finally, Stephens raised their price target on Plumas Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $66.33.

About Plumas Bancorp

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.