Plumas Bancorp (NASDAQ:PLBC) Coverage Initiated by Analysts at Piper Sandler

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

A number of other analysts have also recently weighed in on PLBC. Raymond James reiterated an “outperform” rating and set a $54.00 price target (up previously from $49.00) on shares of Plumas Bancorp in a research note 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 price target for the company.

Plumas Bancorp Price Performance

NASDAQ PLBC opened at $44.63 on Thursday. The firm’s fifty day moving average price is $46.03 and its 200 day moving average price is $44.00. The company has a market capitalization of $263.18 million, a price-to-earnings ratio of 9.32 and a beta of 0.70. Plumas Bancorp has a 12 month low of $32.50 and a 12 month high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results 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, sell-side analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.30 per share. This is an increase from Plumas Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 2.69%. The ex-dividend date was Monday, February 3rd. Plumas Bancorp’s dividend payout ratio (DPR) is 25.05%.

Insider Buying and Selling at Plumas Bancorp

In other Plumas Bancorp news, Director Michael Kevin Foster bought 1,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $45,670. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 9.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plumas Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of PLBC. The Manufacturers Life Insurance Company grew 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 worth $6,954,000 after buying an additional 9,328 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Plumas Bancorp by 533.8% in the third quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 4,938 shares during the last quarter. De Lisle Partners LLP boosted its position 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 worth $6,068,000 after acquiring an additional 57,051 shares during the last quarter. Fourthstone LLC acquired a new stake in shares of Plumas Bancorp in the third quarter worth approximately $521,000. Finally, State Street Corp boosted its position in shares of Plumas Bancorp by 3.8% in the third quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock worth $2,809,000 after acquiring an additional 2,526 shares during the last quarter. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.