Plumas Bancorp $PLBC Shares Sold by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC lessened its stake in Plumas Bancorp (NASDAQ:PLBC) by 82.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,155 shares of the financial services provider’s stock after selling 24,184 shares during the period. Grandeur Peak Global Advisors LLC owned 0.07% of Plumas Bancorp worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PLBC. Nuveen LLC purchased a new stake in shares of Plumas Bancorp in the 1st quarter valued at about $103,720,000. Elizabeth Park Capital Advisors Ltd. increased its position in Plumas Bancorp by 5.9% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 53,778 shares of the financial services provider’s stock worth $2,327,000 after buying an additional 3,000 shares during the period. Jane Street Group LLC purchased a new stake in Plumas Bancorp in the first quarter valued at approximately $255,000. Acadian Asset Management LLC acquired a new stake in shares of Plumas Bancorp in the first quarter valued at approximately $78,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Plumas Bancorp during the second quarter worth approximately $416,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Analysts Set New Price Targets

PLBC has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Plumas Bancorp in a research report on Friday, October 31st. Piper Sandler reduced their target price on shares of Plumas Bancorp from $64.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Plumas Bancorp has an average rating of “Buy” and a consensus target price of $55.50.

Plumas Bancorp Stock Performance

Shares of PLBC opened at $43.36 on Friday. The stock has a market capitalization of $301.61 million, a P/E ratio of 10.15 and a beta of 0.69. Plumas Bancorp has a 1 year low of $38.71 and a 1 year high of $51.33. The company’s fifty day moving average is $42.08 and its two-hundred day moving average is $42.92.

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

Plumas Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, November 3rd. Plumas Bancorp’s payout ratio is currently 28.10%.

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.