Barclays PLC increased its stake in Plumas Bancorp (NASDAQ:PLBC – Free Report) by 275.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,155 shares of the financial services provider’s stock after buying an additional 5,249 shares during the period. Barclays PLC’s holdings in Plumas Bancorp were worth $292,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in PLBC. The Manufacturers Life Insurance Company grew its holdings in 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 acquiring an additional 9,328 shares in the last quarter. De Lisle Partners LLP increased its holdings in Plumas Bancorp by 61.5% in the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock valued at $6,068,000 after buying an additional 57,051 shares during the last quarter. Geode Capital Management LLC raised its stake in Plumas Bancorp by 5.2% during the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock valued at $5,033,000 after buying an additional 6,075 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Plumas Bancorp by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after buying an additional 4,838 shares during the last quarter. Finally, State Street Corp grew its position in shares of Plumas Bancorp by 3.8% in the 3rd quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock worth $2,809,000 after acquiring an additional 2,526 shares in the last quarter. 41.68% of the stock is owned by institutional investors and hedge funds.
Plumas Bancorp Trading Up 3.0 %
Shares of Plumas Bancorp stock opened at $46.94 on Tuesday. The stock has a market capitalization of $276.81 million, a price-to-earnings ratio of 9.84 and a beta of 0.71. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33. The business’s 50 day simple moving average is $47.24 and its 200-day simple moving average is $42.76.
Plumas Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be given a $0.30 dividend. The ex-dividend date of this dividend is 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 yield of 2.56%. Plumas Bancorp’s dividend payout ratio (DPR) is currently 25.05%.
Analysts Set New Price Targets
PLBC has been the topic of several research reports. Stephens initiated coverage on 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 reaffirmed an “outperform” rating and issued a $49.00 price target (up from $45.00) on shares of Plumas Bancorp in a report on Thursday, January 16th.
Read Our Latest Report on PLBC
About Plumas Bancorp
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.
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