Plumas Bancorp (NASDAQ:PLBC) Coverage Initiated at Stephens

Equities research analysts at Stephens started coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a report issued on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 25.00% from the company’s current price.

Separately, Raymond James upped their target price on Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd.

Plumas Bancorp Stock Performance

Shares of Plumas Bancorp stock opened at $48.00 on Wednesday. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $48.55. The stock has a market cap of $283.20 million, a PE ratio of 10.06 and a beta of 0.67. The firm has a 50-day moving average of $42.68 and a 200-day moving average of $39.30.

Plumas Bancorp (NASDAQ:PLBC) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.14 by $0.17. The company had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. Equities research analysts predict that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bj North sold 2,496 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total value of $106,204.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PLBC. De Lisle Partners LLP raised its stake in Plumas Bancorp by 61.5% during the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after buying an additional 57,051 shares during the period. Elizabeth Park Capital Advisors Ltd. acquired a new position in Plumas Bancorp during the 2nd quarter worth approximately $1,247,000. Kennedy Capital Management LLC acquired a new position in Plumas Bancorp during the 1st quarter worth approximately $589,000. Fourthstone LLC acquired a new position in Plumas Bancorp during the 3rd quarter worth approximately $521,000. Finally, The Manufacturers Life Insurance Company raised its stake 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 buying an additional 9,328 shares during the period. 41.68% of the stock is 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.