Raymond James & Associates Cuts Stake in Plumas Bancorp (NASDAQ:PLBC)

Raymond James & Associates reduced its stake in Plumas Bancorp (NASDAQ:PLBC) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,528 shares of the financial services provider’s stock after selling 551 shares during the quarter. Raymond James & Associates owned 0.69% of Plumas Bancorp worth $1,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Plumas Bancorp by 183.8% in the 2nd quarter. Royal Bank of Canada now owns 1,141 shares of the financial services provider’s stock worth $40,000 after buying an additional 739 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Plumas Bancorp in the 3rd quarter worth about $42,000. BNP Paribas Arbitrage SNC purchased a new position in shares of Plumas Bancorp in the 2nd quarter worth about $51,000. Barclays PLC purchased a new position in shares of Plumas Bancorp in the 1st quarter worth about $61,000. Finally, California State Teachers Retirement System purchased a new position in shares of Plumas Bancorp in the 2nd quarter worth about $65,000. 41.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Plumas Bancorp

In other news, EVP Aaron M. Boigon sold 1,600 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $36.89, for a total value of $59,024.00. Following the sale, the executive vice president now directly owns 5,600 shares of the company’s stock, valued at $206,584. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLBC. StockNews.com downgraded shares of Plumas Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Raymond James upped their price objective on shares of Plumas Bancorp from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, January 19th.

Plumas Bancorp Stock Up 0.3 %

NASDAQ PLBC opened at $35.35 on Friday. The company has a market cap of $208.21 million, a PE ratio of 7.06 and a beta of 0.73. Plumas Bancorp has a 52 week low of $31.77 and a 52 week high of $45.00. The firm’s 50-day simple moving average is $35.15 and its two-hundred day simple moving average is $36.23.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.23 by $0.04. The business had revenue of $20.01 million for the quarter, compared to the consensus estimate of $20.00 million. Plumas Bancorp had a net margin of 34.90% and a return on equity of 22.70%. As a group, equities research analysts anticipate that Plumas Bancorp will post 4.8 EPS for the current year.

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.