Plumas Bancorp (NASDAQ:PLBC) Coverage Initiated at Stephens

Equities research analysts at Stephens initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a report issued on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 25.00% from the company’s current price.

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

Plumas Bancorp Stock Performance

Shares of PLBC opened at $48.00 on Wednesday. The stock has a 50 day moving average price of $42.68 and a two-hundred day moving average price of $39.30. The firm has a market capitalization of $283.20 million, a P/E ratio of 10.06 and a beta of 0.67. Plumas Bancorp has a 52 week low of $32.50 and a 52 week high of $48.55.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data 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. The firm had revenue of $24.10 million during the quarter, compared to analyst estimates of $20.60 million. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. On average, equities analysts forecast that Plumas Bancorp will post 4.66 earnings per share for the current year.

Insider Activity

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in Plumas Bancorp by 533.8% during the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 4,938 shares during the period. Jane Street Group LLC grew its holdings in Plumas Bancorp by 7.9% during the third quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 457 shares during the period. Rhumbline Advisers grew its holdings in Plumas Bancorp by 4.9% during the second 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. Barclays PLC grew its holdings in Plumas Bancorp by 275.4% during the third 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. Finally, Fourthstone LLC bought a new position in Plumas Bancorp during the third quarter valued at $521,000. 41.68% of the stock is owned by 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.