JPMorgan Chase & Co. Raises Stock Holdings in Plumas Bancorp (NASDAQ:PLBC)

JPMorgan Chase & Co. boosted its position in shares of Plumas Bancorp (NASDAQ:PLBC) by 129.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,622 shares of the financial services provider’s stock after buying an additional 4,305 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of Plumas Bancorp worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Plumas Bancorp by 533.8% during the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 4,938 shares during the last quarter. Jane Street Group LLC increased its holdings in Plumas Bancorp by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 457 shares during the period. Barclays PLC raised its position in Plumas Bancorp by 275.4% during the 3rd quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 5,249 shares during the last quarter. Fourthstone LLC purchased a new stake in Plumas Bancorp in the 3rd quarter worth approximately $521,000. 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 buying an additional 2,526 shares during the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

Plumas Bancorp Stock Performance

Plumas Bancorp stock opened at $47.25 on Friday. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33. The stock has a market cap of $278.78 million, a price-to-earnings ratio of 9.86 and a beta of 0.71. The stock’s 50 day simple moving average is $47.29 and its two-hundred day simple moving average is $43.27.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. On average, analysts predict that Plumas Bancorp will post 4.75 earnings per share for the current year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.54%. Plumas Bancorp’s dividend payout ratio is currently 22.55%.

Analysts Set New Price Targets

PLBC has been the subject of a number of recent analyst reports. Raymond James restated an “outperform” rating and set a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a report on Thursday. Stephens began coverage on shares of Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price objective for the company.

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.