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

Piper Sandler began coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 36.09% from the company’s current price.

A number of other research firms have also weighed in on PLBC. Stephens started coverage on Plumas Bancorp in a research note on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price objective on the stock. Raymond James reissued an “outperform” rating and set a $54.00 price target (up previously from $49.00) on shares of Plumas Bancorp in a research report on Thursday, January 30th.

Plumas Bancorp Stock Down 2.8 %

Shares of PLBC opened at $44.09 on Thursday. Plumas Bancorp has a 52-week low of $32.50 and a 52-week high of $51.33. The stock has a market cap of $260.00 million, a PE ratio of 9.20 and a beta of 0.70. The firm’s fifty day moving average is $46.07 and its two-hundred day moving average is $44.00.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data 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 net margin of 30.74% and a return on equity of 16.88%. As a group, research analysts anticipate that Plumas Bancorp will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Plumas Bancorp

In related news, Director Michael Kevin Foster purchased 1,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost 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 in the company, valued at approximately $45,670. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

Large investors have recently made changes to their positions in the stock. De Lisle Partners LLP raised its position in Plumas Bancorp by 61.5% in the third quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock valued at $6,068,000 after purchasing an additional 57,051 shares during the period. Angel Oak Capital Advisors LLC purchased a new stake in shares of Plumas Bancorp in the 4th quarter valued at $1,026,000. Raymond James Financial Inc. acquired a new position in Plumas Bancorp during the 4th quarter worth about $899,000. Elizabeth Park Capital Advisors Ltd. boosted its holdings in Plumas Bancorp by 46.5% during the 4th quarter. Elizabeth Park Capital Advisors Ltd. now owns 50,778 shares of the financial services provider’s stock valued at $2,400,000 after acquiring an additional 16,110 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Plumas Bancorp by 185.4% during the 4th quarter. JPMorgan Chase & Co. now owns 21,750 shares of the financial services provider’s stock valued at $1,028,000 after acquiring an additional 14,128 shares during the period. 41.68% of the stock is currently owned by institutional investors and hedge funds.

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.