The Manufacturers Life Insurance Company Acquires 39,176 Shares of Plumas Bancorp $PLBC

The Manufacturers Life Insurance Company grew its holdings in shares of Plumas Bancorp (NASDAQ:PLBC) by 19.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 235,916 shares of the financial services provider’s stock after buying an additional 39,176 shares during the period. The Manufacturers Life Insurance Company owned 3.38% of Plumas Bancorp worth $11,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLBC. Dimensional Fund Advisors LP boosted its holdings in Plumas Bancorp by 12.1% in the first quarter. Dimensional Fund Advisors LP now owns 123,750 shares of the financial services provider’s stock valued at $6,041,000 after acquiring an additional 13,342 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Plumas Bancorp in the 1st quarter worth about $378,000. My Personal CFO LLC bought a new stake in shares of Plumas Bancorp during the 1st quarter valued at about $206,000. Blue Trust Inc. purchased a new position in shares of Plumas Bancorp during the first quarter valued at about $40,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Plumas Bancorp during the fourth quarter valued at about $415,000. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Wall Street Analysts Forecast Growth

PLBC has been the subject of several research analyst reports. Raymond James Financial restated an “outperform” rating and issued a $66.00 price objective on shares of Plumas Bancorp in a report on Thursday, July 16th. Piper Sandler upped their target price on Plumas Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Plumas Bancorp in a research report on Friday, July 24th. Wall Street Zen upgraded Plumas Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Stephens upped 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $66.33.

Plumas Bancorp Price Performance

PLBC opened at $61.42 on Tuesday. The firm has a market cap of $428.10 million, a PE ratio of 12.09 and a beta of 0.59. The stock has a 50-day moving average price of $57.59 and a 200-day moving average price of $53.06. Plumas Bancorp has a 1 year low of $39.78 and a 1 year high of $63.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate 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%. Sell-side analysts predict that Plumas Bancorp will post 5.71 earnings per share for the current fiscal year.

Plumas Bancorp Announces Dividend

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

Plumas Bancorp Profile

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.