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

Raymond James restated their outperform rating on shares of Plumas Bancorp (NASDAQ:PLBC) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $49.00 target price on the financial services provider’s stock, up from their prior target price of $45.00.

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

Plumas Bancorp Stock Down 2.2 %

PLBC opened at $45.58 on Thursday. The business has a fifty day moving average of $47.16 and a 200 day moving average of $42.49. The stock has a market cap of $268.79 million, a P/E ratio of 9.56 and a beta of 0.71. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. Equities analysts anticipate that Plumas Bancorp will post 4.72 EPS for the current fiscal year.

Insider Transactions at Plumas Bancorp

In other news, EVP Bj North sold 2,496 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total value of $106,204.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

Several institutional investors have recently bought and sold shares of PLBC. De Lisle Partners LLP lifted its holdings in Plumas Bancorp by 61.5% during the third 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. purchased a new stake in shares of Plumas Bancorp during the 2nd quarter worth $1,247,000. Fourthstone LLC bought a new stake in Plumas Bancorp during the third quarter valued at about $521,000. The Manufacturers Life Insurance Company grew its stake in Plumas Bancorp by 5.8% in the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after purchasing an additional 9,328 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Plumas Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after purchasing an additional 6,075 shares in the last quarter. 41.68% of the stock is owned by hedge funds and other institutional investors.

Plumas Bancorp Company Profile

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.