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

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

A number of other analysts have also recently commented on PLBC. Raymond James reissued an “outperform” rating and set a $54.00 target price (up previously from $49.00) on shares of Plumas Bancorp in a research note on Thursday, January 30th. Stephens assumed coverage on shares of Plumas Bancorp in a research report on Wednesday, November 27th. They set an “overweight” rating and a $60.00 price target on the stock.

Plumas Bancorp Stock Performance

PLBC opened at $44.63 on Thursday. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33. The company has a fifty day moving average of $46.03 and a two-hundred day moving average of $44.00. The stock has a market capitalization of $263.18 million, a price-to-earnings ratio of 9.32 and a beta of 0.70.

Plumas Bancorp (NASDAQ:PLBC) last released its earnings results 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 30.74% and a return on equity of 16.88%. On average, equities research analysts forecast that Plumas Bancorp will post 4.51 earnings per share for the current year.

Plumas Bancorp Increases Dividend

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

Insider Buying and Selling at Plumas Bancorp

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

Hedge Funds Weigh In On Plumas Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Plumas Bancorp by 0.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 171,063 shares of the financial services provider’s stock worth $8,084,000 after acquiring an additional 537 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Plumas Bancorp by 5.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after acquiring an additional 9,328 shares during the last quarter. De Lisle Partners LLP lifted its holdings in shares of Plumas Bancorp by 61.5% in the 3rd 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. Geode Capital Management LLC lifted its holdings in shares of Plumas Bancorp by 5.2% in the 3rd 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 stake in Plumas Bancorp by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 83,391 shares of the financial services provider’s stock worth $3,941,000 after buying an additional 3,121 shares during the period. 41.68% of the stock is currently owned by institutional investors and hedge funds.

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.