Plumas Bancorp (NASDAQ:PLBC) Receives “Outperform” Rating from Raymond James

Raymond James reiterated their outperform rating on shares of Plumas Bancorp (NASDAQ:PLBC) in a report published on Thursday,Benzinga reports. Raymond James currently has a $54.00 price target on the financial services provider’s stock, up from their previous price target of $49.00.

Separately, Stephens started 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

Shares of PLBC stock opened at $47.25 on Thursday. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $51.33. The firm has a market capitalization of $278.78 million, a price-to-earnings ratio of 9.86 and a beta of 0.71. The business has a 50 day simple moving average of $47.29 and a 200 day simple moving average of $43.27.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.14. Plumas Bancorp had a return on equity of 16.88% and a net margin of 30.74%. On average, equities analysts anticipate that Plumas Bancorp will post 4.75 EPS for the current fiscal year.

Plumas Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.20 annualized dividend and a yield of 2.54%. This is a boost from Plumas Bancorp’s previous quarterly dividend of $0.27. Plumas Bancorp’s dividend payout ratio (DPR) is currently 22.55%.

Institutional Investors Weigh In On Plumas Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Plumas Bancorp by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 4,838 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Plumas Bancorp by 5.8% during the third quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock valued at $6,954,000 after acquiring an additional 9,328 shares during the period. BNP Paribas Financial Markets raised 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 purchasing an additional 4,938 shares during the period. De Lisle Partners LLP lifted its holdings in shares of 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 in the last quarter. Finally, Fourthstone LLC acquired a new stake in shares of Plumas Bancorp in the third quarter worth $521,000. 41.68% of the stock is currently 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.