Piper Sandler Cuts Plumas Bancorp (NASDAQ:PLBC) Price Target to $59.00

Plumas Bancorp (NASDAQ:PLBC) had its price target decreased by Piper Sandler from $61.00 to $59.00 in a research note issued to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on PLBC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plumas Bancorp in a research note on Monday, December 29th. Wall Street Zen cut shares of Plumas Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $54.50.

Plumas Bancorp Stock Performance

Shares of Plumas Bancorp stock opened at $49.40 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $50.47 and its 200-day simple moving average is $45.95. The firm has a market cap of $344.76 million, a PE ratio of 10.88 and a beta of 0.59. Plumas Bancorp has a 52 week low of $38.71 and a 52 week high of $54.58.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. The firm had revenue of $20.99 million for the quarter, compared to analyst estimates of $27.39 million. Plumas Bancorp had a return on equity of 15.32% and a net margin of 26.40%. Equities analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were given a $0.33 dividend. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, February 4th. Plumas Bancorp’s dividend payout ratio (DPR) is currently 29.07%.

Insider Buying and Selling at Plumas Bancorp

In other news, Director Kenneth Edward Robison III sold 800 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $52.76, for a total transaction of $42,208.00. Following the completion of the transaction, the director directly owned 1,875 shares of the company’s stock, valued at $98,925. This trade represents a 29.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

A number of large investors have recently bought and sold shares of PLBC. Jane Street Group LLC purchased a new position in Plumas Bancorp during the first quarter worth $255,000. Acadian Asset Management LLC purchased a new stake in shares of Plumas Bancorp in the first quarter valued at $78,000. Kennedy Capital Management LLC lifted its position in shares of Plumas Bancorp by 42.7% in the second quarter. Kennedy Capital Management LLC now owns 27,423 shares of the financial services provider’s stock valued at $1,219,000 after acquiring an additional 8,204 shares in the last quarter. Fourthstone LLC acquired a new stake in shares of Plumas Bancorp during the second quarter valued at $1,277,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Plumas Bancorp by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 180,291 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 6,637 shares during the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

About Plumas Bancorp

Plumas Bancorp (NASDAQ:PLBC) is a bank holding company headquartered in Quincy, California, and the parent of Plumas Bank. The company focuses on community banking, delivering personalized financial solutions to individuals, families, small businesses and agricultural clients. Through its subsidiary, Plumas Bank offers a comprehensive range of deposit and lending products designed to meet the unique needs of customers in Northern California’s rural and semi-rural markets.

Plumas Bank’s product lineup includes checking and savings accounts, money market funds and certificates of deposit, alongside a variety of consumer lending options such as residential mortgages, home equity lines of credit and installment loans.