Plumas Bancorp (NASDAQ:PLBC) Now Covered by Stephens

Equities research analysts at Stephens initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 21.31% from the company’s current price.

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

Plumas Bancorp Stock Performance

Shares of NASDAQ:PLBC opened at $49.46 on Wednesday. The firm has a market cap of $291.81 million, a price-to-earnings ratio of 10.37 and a beta of 0.67. The business has a 50-day simple moving average of $42.96 and a two-hundred day simple moving average of $39.44. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $49.74.

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

Insider Activity at Plumas Bancorp

In related news, EVP Bj North sold 2,496 shares of Plumas Bancorp stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total transaction of $106,204.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.00% of the stock is currently owned by company insiders.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PLBC. Vanguard Group Inc. grew its stake in shares of Plumas Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after acquiring an additional 1,862 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Plumas Bancorp in the first quarter worth approximately $589,000. Bank of New York Mellon Corp increased its stake in shares of Plumas Bancorp by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 2,036 shares in the last quarter. Rhumbline Advisers raised its position in shares of Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 290 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Plumas Bancorp by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after buying an additional 4,838 shares in the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

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.