Plumas Bancorp (NASDAQ:PLBC) Now Covered by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued an overweight rating and a $60.00 price target on the financial services provider’s stock.

Several other research firms also recently commented on PLBC. Raymond James reissued an “outperform” rating and issued a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th. Stephens began coverage on shares of Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 target price on the stock.

Plumas Bancorp Price Performance

PLBC opened at $45.96 on Thursday. The firm has a market cap of $271.03 million, a P/E ratio of 9.60 and a beta of 0.70. Plumas Bancorp has a 1-year low of $32.50 and a 1-year high of $51.33. The company has a 50 day simple moving average of $45.94 and a two-hundred day simple moving average of $44.07.

Plumas Bancorp (NASDAQ:PLBC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. Equities analysts anticipate 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 Monday, February 17th. Investors of record on Monday, February 3rd were paid a dividend of $0.30 per share. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. Plumas Bancorp’s dividend payout ratio is presently 25.05%.

Insider Activity at Plumas Bancorp

In other news, Director Michael Kevin Foster acquired 1,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $45,670. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLBC. Picton Mahoney Asset Management bought a new position in Plumas Bancorp during the fourth quarter valued at $32,000. Tower Research Capital LLC TRC increased its position in Plumas Bancorp by 447.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 904 shares during the last quarter. SG Americas Securities LLC bought a new position in Plumas Bancorp during the fourth quarter valued at $105,000. Wells Fargo & Company MN increased its position in Plumas Bancorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 703 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Plumas Bancorp during the fourth quarter valued at $222,000. 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.