Plumas Bancorp (NASDAQ:PLBC) Now Covered by Analysts at Stephens

Stephens assumed coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $60.00 price objective on the financial services provider’s stock.

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

Plumas Bancorp Price Performance

Plumas Bancorp stock opened at $49.46 on Wednesday. Plumas Bancorp has a one year low of $32.50 and a one year high of $49.74. The business’s fifty day moving average is $42.68 and its 200 day moving average is $39.30. The stock has a market capitalization of $291.81 million, a PE ratio of 10.06 and a beta of 0.67.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results 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. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. The firm had revenue of $24.10 million during the quarter, compared to analyst estimates of $20.60 million. As a group, sell-side analysts expect that Plumas Bancorp will post 4.66 EPS for the current fiscal year.

Plumas Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, November 1st. Plumas Bancorp’s payout ratio is currently 22.64%.

Insider Buying and Selling

In related news, EVP Bj North sold 2,496 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.55, for a total value of $106,204.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.00% of the stock is currently owned by insiders.

Institutional Trading of Plumas Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PLBC. Vanguard Group Inc. grew its stake in shares of Plumas Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock valued at $10,310,000 after acquiring an additional 1,862 shares during the period. Kennedy Capital Management LLC purchased a new stake in shares of Plumas Bancorp in the first quarter worth $589,000. Bank of New York Mellon Corp raised its position in shares of Plumas Bancorp by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 2,036 shares during the period. Rhumbline Advisers lifted its stake in shares of Plumas Bancorp by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after buying an additional 290 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 buying an additional 4,838 shares during the period. Hedge funds and other institutional investors 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.