Plumas Bancorp (NASDAQ:PLBC) Price Target Increased to $45.00 by Analysts at Raymond James

Plumas Bancorp (NASDAQ:PLBC) had its price target upped by equities research analysts at Raymond James from $43.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective indicates a potential upside of 11.91% from the company’s current price.

Plumas Bancorp Price Performance

PLBC traded down $0.49 on Wednesday, reaching $40.21. 6,493 shares of the stock were exchanged, compared to its average volume of 8,517. The firm has a market capitalization of $237.08 million, a PE ratio of 8.35 and a beta of 0.68. The company’s 50-day moving average price is $40.23 and its 200 day moving average price is $37.22. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $45.00.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. The business had revenue of $20.61 million during the quarter, compared to analysts’ expectations of $20.00 million. Plumas Bancorp had a return on equity of 19.22% and a net margin of 32.14%. As a group, equities analysts forecast that Plumas Bancorp will post 4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plumas Bancorp

Several large investors have recently bought and sold shares of the company. Elizabeth Park Capital Advisors Ltd. acquired a new position in Plumas Bancorp in the second quarter valued at approximately $1,247,000. Dimensional Fund Advisors LP increased its holdings in Plumas Bancorp by 6.5% in 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 buying an additional 4,838 shares during the last quarter. Rhumbline Advisers increased its holdings in 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 buying an additional 290 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Plumas Bancorp by 7.4% during 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, Kennedy Capital Management LLC purchased a new position in shares of Plumas Bancorp during the first quarter worth about $589,000. 41.68% of the stock is currently owned by hedge funds and other institutional investors.

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.