Plumas Bancorp’s (PLBC) “Outperform” Rating Reiterated at Raymond James

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

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

Plumas Bancorp Price Performance

PLBC opened at $46.94 on Thursday. The stock’s 50 day moving average price is $47.20 and its 200 day moving average price is $42.62. The stock has a market cap of $276.95 million, a P/E ratio of 9.84 and a beta of 0.71. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates 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 year.

Plumas Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be paid a $0.30 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.27. Plumas Bancorp’s payout ratio is currently 22.64%.

Insider Buying and Selling

In related news, EVP Bj North sold 2,496 shares of Plumas Bancorp 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 legal filing with the SEC, which is available at this link. Insiders own 9.00% of the company’s stock.

Institutional Trading of Plumas Bancorp

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Plumas Bancorp in the fourth quarter worth $105,000. Rhumbline Advisers boosted its position 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 period. BNP Paribas Financial Markets grew its stake in Plumas Bancorp by 533.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 4,938 shares in the last quarter. Jane Street Group LLC grew its stake in Plumas Bancorp by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 457 shares in the last quarter. Finally, Barclays PLC increased its holdings 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 period. 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.