Stephens Initiates Coverage on Plumas Bancorp (NASDAQ:PLBC)

Stephens initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $60.00 price target on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 21.31% from the stock’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 Up 3.0 %

Shares of Plumas Bancorp stock opened at $49.46 on Wednesday. The company’s fifty day simple moving average is $42.96 and its two-hundred day simple moving average is $39.44. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $49.74. The firm has a market cap of $291.81 million, a PE ratio of 10.37 and a beta of 0.67.

Plumas Bancorp (NASDAQ:PLBC) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.17. The company had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $20.60 million. Plumas Bancorp had a return on equity of 17.31% and a net margin of 31.02%. As a group, sell-side analysts expect that Plumas Bancorp will post 4.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total value of $106,204.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Plumas Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Plumas Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after purchasing an additional 1,862 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 buying an additional 9,328 shares during the last quarter. De Lisle Partners LLP boosted its holdings 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 worth $6,068,000 after acquiring an additional 57,051 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Plumas Bancorp by 5.2% in the third quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after acquiring an additional 6,075 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Plumas Bancorp by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock valued at $2,847,000 after acquiring an additional 4,838 shares in the last quarter. Hedge funds and other institutional investors own 41.68% of the company’s stock.

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.