Plumas Bancorp (NASDAQ:PLBC) Now Covered by Stephens

Stephens initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research report released on Wednesday morning, MarketBeat reports. The firm issued an overweight rating and a $60.00 target price on the financial services provider’s stock.

Separately, Raymond James lifted their price objective on Plumas Bancorp from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd.

Plumas Bancorp Stock Performance

Shares of NASDAQ:PLBC opened at $49.46 on Wednesday. The firm has a market cap of $291.81 million, a price-to-earnings ratio of 10.06 and a beta of 0.67. The firm has a fifty day moving average price of $42.68 and a 200 day moving average price of $39.30. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $49.74.

Plumas Bancorp (NASDAQ:PLBC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.14 by $0.17. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. The business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $20.60 million. As a group, research analysts predict that Plumas Bancorp will post 4.66 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.27 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. Plumas Bancorp’s dividend payout ratio (DPR) is presently 22.64%.

Insider Activity

In other news, EVP Bj North sold 2,496 shares of the business’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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of Plumas Bancorp by 4.9% in the second quarter. Rhumbline Advisers now owns 6,247 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 290 shares during the period. Jane Street Group LLC raised its position 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 purchasing an additional 457 shares during the period. Vanguard Group Inc. raised its position in 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 during the period. Bank of New York Mellon Corp lifted its stake in Plumas Bancorp by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 29,394 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 2,036 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Plumas Bancorp by 3.8% during the third quarter. State Street Corp now owns 68,879 shares of the financial services provider’s stock valued at $2,809,000 after buying an additional 2,526 shares during the period. 41.68% of the stock is 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.