Plumas Bancorp (NASDAQ:PLBC) Earns Overweight Rating from Analysts at Stephens

Stephens initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $60.00 price target on the financial services provider’s stock.

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

Plumas Bancorp Stock Performance

PLBC opened at $50.10 on Wednesday. The firm’s 50-day simple moving average is $43.15 and its 200-day simple moving average is $39.55. Plumas Bancorp has a twelve month low of $32.50 and a twelve month high of $51.33. The firm has a market cap of $295.59 million, a price-to-earnings ratio of 10.50 and a beta of 0.67.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.17. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. The business had revenue of $24.10 million for the quarter, compared to analyst estimates of $20.60 million. As a group, sell-side analysts anticipate that Plumas Bancorp will post 4.66 EPS for the current fiscal year.

Plumas Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, November 1st. Plumas Bancorp’s dividend payout ratio is currently 22.64%.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Plumas Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 290 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Plumas Bancorp by 533.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 4,938 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Plumas Bancorp by 7.9% in 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 last quarter. Barclays PLC boosted its stake in shares of Plumas Bancorp by 275.4% in 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. Finally, Fourthstone LLC bought a new position in shares of Plumas Bancorp in the 3rd quarter valued at about $521,000. Institutional investors own 41.68% of the company’s stock.

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.