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

Plumas Bancorp (NASDAQ:PLBC) had its price target reduced by Piper Sandler from $60.00 to $59.00 in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Separately, Raymond James restated an “outperform” rating and set a $54.00 price objective (up from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th.

Plumas Bancorp Trading Up 3.0 %

Shares of Plumas Bancorp stock opened at $41.08 on Thursday. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $51.33. The company has a market capitalization of $243.19 million, a PE ratio of 8.58 and a beta of 0.55. The stock’s fifty day simple moving average is $43.34 and its 200 day simple moving average is $44.62.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. The company had revenue of $21.50 million for the quarter, compared to analyst estimates of $20.62 million. During the same quarter last year, the firm posted $1.05 earnings per share. Analysts predict that Plumas Bancorp will post 4.51 EPS for the current fiscal year.

Plumas Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.92%. Plumas Bancorp’s dividend payout ratio (DPR) is presently 24.29%.

Insider Buying and Selling

In other Plumas Bancorp news, Director Michael Kevin Foster purchased 1,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $45.67 per share, with a total value of $45,670.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $45,670. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of PLBC. Picton Mahoney Asset Management bought a new position in Plumas Bancorp in the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its holdings 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 worth $52,000 after buying an additional 904 shares during the last quarter. GAMMA Investing LLC raised its position in Plumas Bancorp by 4,382.1% during the first quarter. GAMMA Investing LLC now owns 1,255 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,227 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Plumas Bancorp in the fourth quarter valued at $105,000. Finally, Wells Fargo & Company MN grew its position in shares of Plumas Bancorp by 27.9% in the 4th 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 period. Institutional investors and hedge funds 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.