Raymond James Reaffirms “Outperform” Rating for Plumas Bancorp (NASDAQ:PLBC)

Plumas Bancorp (NASDAQ:PLBC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Raymond James in a report issued on Thursday,Benzinga reports. They presently have a $49.00 price objective on the financial services provider’s stock, up from their prior price objective of $45.00. Raymond James’ price target indicates a potential upside of 5.38% from the stock’s current price.

Separately, Stephens assumed coverage on shares of Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 price target on the stock.

Plumas Bancorp Price Performance

Shares of PLBC stock traded down $0.10 during mid-day trading on Thursday, hitting $46.50. The stock had a trading volume of 1,459 shares, compared to its average volume of 10,351. Plumas Bancorp has a 12-month low of $32.50 and a 12-month high of $51.33. The firm’s 50-day moving average is $47.12 and its two-hundred day moving average is $42.46. The firm has a market capitalization of $274.35 million, a P/E ratio of 9.75 and a beta of 0.71.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. Analysts expect that Plumas Bancorp will post 4.72 EPS for the current year.

Insider Activity at Plumas Bancorp

In other news, EVP Bj North sold 2,496 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plumas Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted 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 in the last quarter. BNP Paribas Financial Markets lifted its stake in Plumas Bancorp by 533.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,863 shares of the financial services provider’s stock valued at $239,000 after buying an additional 4,938 shares in the last quarter. Jane Street Group LLC boosted its holdings in Plumas Bancorp by 7.9% in the 3rd quarter. Jane Street Group LLC now owns 6,206 shares of the financial services provider’s stock worth $253,000 after buying an additional 457 shares during the last quarter. Barclays PLC increased its stake in Plumas Bancorp by 275.4% during the 3rd quarter. Barclays PLC now owns 7,155 shares of the financial services provider’s stock worth $292,000 after buying an additional 5,249 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Plumas Bancorp by 129.8% during the third quarter. JPMorgan Chase & Co. now owns 7,622 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 4,305 shares during the last quarter. 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.