Plumas Bancorp (NASDAQ:PLBC) Given “Outperform” Rating at Raymond James

Plumas Bancorp (NASDAQ:PLBC)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James in a note issued to investors on Thursday,Benzinga reports. They currently have a $54.00 price objective on the financial services provider’s stock, up from their prior price objective of $49.00. Raymond James’ target price indicates a potential upside of 14.23% from the company’s current price.

Separately, Stephens initiated coverage on Plumas Bancorp in a report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price target on the stock.

Plumas Bancorp Trading Down 1.0 %

Shares of NASDAQ:PLBC opened at $47.27 on Thursday. The stock has a market capitalization of $278.92 million, a PE ratio of 9.86 and a beta of 0.71. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The firm has a fifty day moving average price of $47.29 and a 200 day moving average price of $43.27.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that Plumas Bancorp will post 4.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plumas Bancorp

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Plumas Bancorp by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 4,838 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Plumas Bancorp by 5.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after buying an additional 9,328 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Plumas Bancorp by 533.8% during the 3rd 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 in the last quarter. De Lisle Partners LLP increased its stake 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 acquiring an additional 57,051 shares during the period. Finally, Fourthstone LLC acquired a new position in Plumas Bancorp in the third quarter worth about $521,000. 41.68% of the stock is currently owned by institutional investors and hedge funds.

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.